SEC to streamline crypto ETF approval process as regulatory framework advances

The US Securities and Exchange Commission (SEC) is developing a comprehensive regulatory framework that could accelerate approval for cryptocurrency exchange-traded funds (ETFs). According to Reuters, the new SEC guidelines will cover multiple crypto assets, standardizing their listing process. This marks the first step toward mass approvals for Solana, XRP, and other altcoin ETFs.

As part of its new guidelines, the SEC has already released rules requiring ETF issuers to clearly disclose key fund details, including asset custody methods and competitive risks. 

Solana-based ETFs are likely to be set first once the rules are finalized. Currently, several issuers are awaiting approval for SOL-backed funds, though official launches aren’t expected before early fall.

Despite lacking a final regulatory decision, REX Financial and Osprey Funds have launched an ETF offering indirect exposure to Solana. The fund invests in an overseas SOL ETF and leverages staking to generate yield. It attracted $12 million on its first trading day, July 1.