Solana News Today: SEC's Streamlined Rules Unlock 16 Crypto ETFs, Signal Industry Expansion

The U.S. Securities and Exchange Commission (SEC) has catalyzed a transformative shift in the approval process for spot crypto exchange-traded funds (ETFs), with Bloomberg analyst Eric Balchunas raising the probability of approval for 16 pending applications to 100%. This development follows the SEC's adoption of generic listing standards for commodity-based trust shares, eliminating the need for individualized 19b-4 filings under the Securities Exchange Act of 1934. The streamlined framework allows exchanges like Nasdaq, NYSE Arca, and Cboe BZX to list crypto ETFs meeting predefined criteria without case-by-case reviews, significantly accelerating the timeline for market entry.

The new rules, effective in mid-September 2025, have prompted issuers of ETFs tracking Solana (SOL), XRP, Litecoin (LTC), Cardano (ADA), and Dogecoin (DOGE) to withdraw their 19b-4 filings. Under the revised process, these funds now rely solely on S-1 registration statements, which the SEC can approve at any time. Balchunas emphasized that the removal of procedural hurdles-such as rigid deadlines tied to 19b-4 filings-has rendered the approval process a matter of timing rather than regulatory resistance. For instance, Solana ETF issuers have submitted their fourth amendment, signaling imminent clearance.

The 16 pending ETFs, which include applications for XRP, Solana, and Litecoin, are poised to become the first wave under the new framework. These funds represent a broadening of the crypto ETF market beyond Bitcoin and Ethereum, with potential assets under management (AUM) already showing robust inflows. The REX-Osprey XRP ETF (XRPR), for example, generated $37.75 million in first-day trading volume and currently holds $31.8 million in AUM. Analysts anticipate that approvals in October 2025 will set a precedent for the 80+ additional crypto ETF applications in the pipeline, accelerating institutional adoption of digital assets.

The market reaction has been overwhelmingly bullish. Fox Business reporter Eleanor Terrett noted that the SEC's flexibility to approve products in batches or all at once has heightened expectations for a swift rollout. Balchunas further highlighted that the absence of 19b-4 deadlines removes a critical bottleneck, enabling the SEC to act on S-1 filings without waiting for formal deadlines. This shift has already spurred amendments from issuers, with the Solana ETF's fourth filing underscoring the urgency. Additionally, prediction platforms like Polymarket have settled wagers on XRP ETF launches this year, reflecting investor confidence.

Looking ahead, the approval of these ETFs could redefine the regulatory landscape for crypto. The SEC's transition from a restrictive gatekeeper to an active facilitator aligns with broader institutional interest in digital assets. Beyond the immediate 16 funds, the streamlined process may spur a surge in new ETFs, potentially tripling the number of crypto ETFs within a year, as Balchunas previously projected. This momentum is expected to cement 2025 as the breakout year for spot crypto ETFs, with October's approvals serving as a catalyst for global market participation.