Crypto Firms Push SEC for Faster ETF Reviews and Confidential Filings
Grayscale, 21Shares, a16z and trading firms submitted comment letters on ETF review timelines, confidential filings and staking receipt tokens.
Grayscale proposed optional confidential registration for ETF filings and asked the SEC to respond to draft submissions within 45 days. 21Shares warned that public filings let rivals copy new structures before approval. Andreessen Horowitz called for shorter review periods through electronic submissions and standardized disclosures.
Jane Street urged at least two authorized participants at launch and cautioned against rushed liquidity reviews. Charles Schwab opposed full confidentiality and proposed a 75-day public notice period before effectiveness. Multicoin Capital, Jito Labs, Jito Foundation and the Solana Policy Institute asked for rules allowing staking receipt tokens in spot crypto ETFs. NYSE requested firmer timelines when exchanges are asked to delay novel listings.
The SEC opened the review after a surge in crypto-linked and AI-assisted filings. Comments closed August 31 with no decision timetable set. No indication exists on which proposals, if any, will be adopted or how they would affect approval speed or staking token treatment.