Crypto Firms Seek Faster SEC Review Process for Novel ETFs

Crypto firms are pushing for changes to the US Securities and Exchange Commission (SEC) review process for novel exchange-traded products.

Grayscale, 21Shares, and Andreessen Horowitz have proposed confidential draft registrations, shorter regulatory response times, and other modifications to streamline the process.

The proposals aim to address concerns that rival sponsors are rushing to replicate proposed products or file similar applications once an application becomes public.

Grayscale suggested submitting draft registrations confidentially before public filing, which could reduce the incentive for rivals to rush in. The firm also asked SEC staff to respond within 45 days.