The U.S. Securities and Exchange Commission (SEC) has instructed issuers of the proposed spot exchange-traded funds (ETFs) for XRP, Solana, Cardano, Litecoin, and Dogecoin to withdraw their pending Form 19b-4 filings.
The motion came little over a week after the regulator’s September 18 approval of new generic listing standards that streamlined the process of launching crypto-backed ETFs in the US, as the registration process no longer requires those forms.
SEC’s New ETF Listing Standard No Longer Requires Issuers to Submit 19b-4 Filings, Speeding up Approval Timelines
Under the new framework, introduced by the U.S. Securities and Exchange Commission’s (SEC) Crypto Task Force to reduce regulatory hurdles, U.S. exchanges such as Nasdaq, Cboe BZX, and NYSE Arca can list crypto ETFs without the need for individual 19b-4 filings, provided the products meet the predefined criteria.
The old regime mandated that each application seek two separate approvals from the securities watchdog: a 19b-4 filing from the exchange where the ETF would be listed, and the other, an S-1 form from the asset manager issuing the fund. The dual-approval process often took up to 240 days to be completed, but with the new generic standards in place, this timeline has been reduced to between 60 and 75 days.
ETF issuers can now directly advance their filings with S-1 registration statements, the final step before an exchange-traded product begins trading. 19b-4 dismissal for the crypto ETFs awaiting decision deadlines is expected this week. The new rules are designed to provide a stable platform for crypto product releases while making innovation exemptions to foster development for on-chain capital markets.
The regulatory shift comes as the SEC prepares for a joint rulemaking with the Commodity Futures Trading Commission (CFTC) to synchronize crypto regulations across the financial market. Both agencies are set to conduct a roundtable meeting focused on regulatory coordination for digital assets as part of the “Project Crypto” initiative.
SEC Chairman Paul Atkins previously emphasized the importance of establishing stable frameworks for crypto product launches, which coincided with the transition from case-by-case filings to standardized listing requirements for crypto ETFs.
SEC Set to Make Final Decision on 16 Crypto ETFs in October
At least 16 crypto ETF proposals from leading issuers: Grayscale, Bitwise, VanEck, WisdomTree, CoinShares, Canary Capital, and 21Shares, covering XRP, SOL, ADA, LTC, and DOGE, have approval deadlines throughout October.
The first products up for a decision are the Canary Litecoin ETF and the Grayscale Litecoin Trust ETF on Wednesday, October 2, 2025. This will be followed by a wave of spot Solana ETFs between October 10 and 16, then a decision on the Grayscale Dogecoin Trust on October 18, the Grayscale Cardano Trust ETF on October 23, and spot XRP ETFs from October 18 to 24.
The SEC has already put its new ETF-listing framework to the test. On September 18, Grayscale’s Digital Large Cap Fund (GDLC) – a multi-asset ETF providing investors with exposure to Bitcoin, Ether, XRP, Solana, and Cardano – became the first exchange-listed product to be launched under the system.
The approval of GDLC, which manages over $915 million in assets under management (AUM), marked a turning point for multi-asset crypto investment products in the United States. Tuttle Capital Management has filed an S-1 registration for its “Income Blast” fund offering exposure to BONK, LTC, and SUI.
According to various reports, 92 crypto ETF applications are now pending SEC approval, with their deadlines falling between October 2025 and April 2026. Market experts noted that the new listing standards make the timeline less dependent on formal deadlines, as the regulator can approve S-1 filings if it is convinced the products meet the eligibility criteria.