SEC Urged to Speed Up Crypto ETF Reviews Amid Firms' Call for Confidential Draft Filings

Crypto asset managers and trading firms are urging the U.S. Securities and Exchange Commission (SEC) to accelerate its ETF review process and permit confidential draft filings. The requests were filed under rulemaking docket S7-2026-24, which collects industry feedback on novel exchange-traded funds.

The issuers argue that faster and more predictable review timelines would reduce legal costs and competitive disadvantages, while confidential drafts would let firms refine applications before public scrutiny. Grayscale, Andreessen Horowitz, Jane Street, and Charles Schwab have submitted comment letters to the SEC, reflecting their distinct roles as issuer, investor, trading firm, and brokerage.

The disagreement among these entities extends to confidentiality and timing, with investors arguing against the 'novel ETF' label in their own letters to the SEC. The split suggests that the disagreement is not confined to a single issuer camp.