SEC Asks ETF Issuers to Withdraw 19b-4 Filings for Faster Process

The SEC has streamlined the process for crypto ETFs by removing the need for 19b-4 filings, which previously required exchanges to amend their rules for each listing.
New generic listing standards allow exchanges to list commodity-based ETPs, including those tied to cryptocurrencies, without separate review for each one.
Issuers now only need to file an S-1 document, detailing the ETF's structure and strategy, for SEC approval.
This change is expected to expedite the launch of spot crypto ETFs, potentially reducing the approval time from months to days.
Despite this change, the SEC has not yet approved Bitwise’s BITW conversion into an ETF, possibly due to its first-to-file policy.
Asset managers have submitted numerous spot crypto ETF proposals, covering coins like Solana, Litecoin, and Dogecoin.
While the timeline for SEC action on pending S-1 filings is uncertain, the regulatory shift may lead to a broader range of digital asset funds with fewer delays.
Potential challenges remain, such as the impact of government shutdowns on the approval process.