SEC's new guidelines may accelerate the approval process for cryptocurrency ETFs

The U.S. Securities and Exchange Commission (SEC) has released new guidelines that may accelerate the approval timeline for cryptocurrency exchange-traded funds (ETFs). These updates were issued following a prolonged government shutdown that resulted in a backlog of over 900 pending registration filings.

The SEC published technical guidance outlining how issuers can advance ETF applications under Section 8(a) and Section 461 of the Securities Act of 1933. Key changes in the new guidelines that could expedite the approval process include: the SEC approved a universal listing standard for commodity trust shares on Nasdaq, Cboe BZX Exchange, and NYSE Arca on September 17, 2025. This eliminates the need for each eligible crypto ETP (Exchange-Traded Product) to obtain separate approval under Section 19(b).

Regarding filings submitted during the government shutdown, the guidance confirms that registration statements without delay provisions will automatically take effect 20 days later under Section 8(a). The new SEC directives allow issuers to choose automatic effectiveness or formally request accelerated effectiveness under Rule 461 for faster listings.