SEC Set to Approve Solana and Meme Coin ETFs Faster Under New Rule

• SEC plans rule to fast-track Solana and meme coin ETF approvals.
• New framework could reduce crypto ETF approval wait times from months to weeks.
• Issuers expect Solana ETFs to launch first under streamlined SEC guidelines.

The U.S. Securities and Exchange Commission is moving to introduce a unified framework that could speed up the approval process for spot crypto ETFs. This effort would apply to a wide range of digital assets, including Solana, XRP, Dogecoin, Polkadot, and politically-linked meme coins.

At the moment, they are individually processed according to the 19b-4 exemption process of ETF applications, leading to delays by up to 240 days. The new regulation proposes to decrease such a waiting period roughly to 75 days by providing a standard rule for all crypto-ETFs.

The SEC and the big exchanges are still talking and still working to nail down the language in the rule. The structure is in place, and the filings under the new format might be possible within a few days or weeks, depending on the phase of negotiations.

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According to issuers, Solana ETFs would be among the first to advance under new regulations. Solana is the sixth-largest cryptocurrency by market cap, which has led to increasing interest in it among retail and institutional investors.

On July 2, the SEC issued the initial installment of its new guidelines. It is a 12-page document that requires ETF issuers to elaborate in their own words on their intentions regarding custody management, structural risk, competitive pressures, etc.

Workarounds Emerge as Firms Await Final SEC Listing Framework

While awaiting full approval, some companies are using alternative routes to launch crypto-linked products. Recently, Osprey Funds and REX Financial launched the REX-Osprey Sol + Staking ETF, which does not hold Solana directly.

Instead, it invests in an entity with indirect exposure to Solana and a non-U.S. Solana fund. This has enabled them to circumvent SEC approval delays and raise at least $12 million of assets on their launch day.

New SEC Strategy Reflects Broader Industry Shift

The release of formal guidance signals a policy shift inside the SEC. A slowdown in enforcement actions and the creation of a dedicated rulemaking team indicate a more organized approach to digital asset oversight.

Once finalized, the new framework will offer a consistent listing path for crypto ETFs tied to a broader range of tokens, including both established assets and emerging meme coins.

Until the SEC publishes the second phase of guidance, no new spot crypto ETFs will be approved. However, the upcoming rule is expected to fast-track listings and improve access to digital asset investments across U.S. markets.

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