Crypto Industry Urges SEC to Avoid Blanket Novel ETF Restrictions
The US Securities and Exchange Commission (SEC) has been urged by leading crypto industry participants to avoid imposing blanket restrictions on novel exchange-traded funds (ETFs).
In letters dated August 31, Grayscale, a16z, and the Crypto Council for Innovation (CCI) asked the SEC to preserve existing classification rules and evaluate novel ETFs based on their individual risk parameters.
a16z argued that crypto-based ETPs now benefit from more developed market infrastructure, including exchange-approved listing standards and established disclosure requirements.
The commenters opposed categorical regulatory changes that could impose additional requirements or delay product launches, instead proposing different routes to clearer and faster reviews.