SEC Withdraws Crypto ETF Filings, Alters Approval Process

• The SEC removed 19b-4 filings, making S-1 forms the only step for crypto ETF approvals.
• Analysts say approval odds for Solana and XRP ETFs are now near 100 percent.
• The change could speed up ETF launches, boosting liquidity and institutional adoption.

The U.S. Securities and Exchange Commission (SEC) has reshaped the approval process for crypto exchange-traded funds (ETFs), mandating issuers to withdraw their 19b-4 filings. The regulatory shift centers approval exclusively on S-1 filings, which analysts suggest could fast-track the timeline for launches. The change impacts major cryptocurrency ETFs, including Solana (SOL), XRP, Cardano (ADA), Litecoin (LTC), and Polkadot (DOT). Market analysts noted this structural adjustment may boost liquidity, improve institutional adoption, and strengthen investor confidence in the sector.

SEC Prioritizes S-1 Filings for ETF Approvals

The SEC ordered issuers to withdraw 19b-4 filings on crypto ETFs on September 30, making S-1 registrations the heart of the approval process. Bloomberg Intelligence Senior ETF Analyst Eric Balchunas says that this change means that S-1 filings are the only step that remains before approval. He said that the chances of approval of Solana and XRP ETF have now been effectively 100 percent, after the agency adopted current listing standards.

Honestly the odds are really 100% now. Generic listing standards make the 19b-4s and their “clock” meaningless. That just leaves the S-1s waiting for formal green light from Corp Finance. And they just submitted amendment #4 for Solana. The baby could come any day. Be ready. https://t.co/5JtfTm82Wi

— Eric Balchunas (@EricBalchunas) September 29, 2025

Asset managers are in the process of laying new strategies towards S-1 needs, which is an indication of a relatively easy road to digital asset-linked investments. The move reflects the previous advances in Bitcoin spot ETF approvals in 2024, but eliminates overlaps in the procedures that took up time to make decisions. Analysts noted that the ruling brings clarity of regulators on expected rules in issuers and could speed up ETFs in the U.S. markets.

Market Outlook for Crypto ETFs and Solana

The strategy of the SEC has the potential to affect the feelings of investors and the crypto market. Scholars proposed that the restructuring can reduce the approval periods so that ETFs based on top cryptocurrencies can be launched more quickly. These blessings are likely to boost liquidity and institutional penetration of markets of digital assets.

Solana is a target because its market capitalization is 114.37 billion and its market dominance is at 2.92 percent, as per CoinMarketCap statistics. The recent trading indicated 0.87 percent and 40.71 percent of gains in 24 hours and 90 days respectively indicating active momentum. Balchunas also reported that Solana ETF filing is already in its fourth amendment phase and that the baby may be any day in reference to awaiting clearance by the SEC Corporation Finance division.

Such an overhaul of the approval process preconditions a possible introduction of ETFs of Solana, XRP, and other popular tokens. There are likely to be product launches within a short time, according to analysts, and this will form institutional adoption in months to come with regulatory hurdles reduced to the S-1 review.