Analysis of the Approval Progress of #SECETF审批 SEC Cryptocurrency ETF (July 9, 2025)

Accelerated Approval Framework:

The U.S. SEC is developing a unified listing standard, aiming to simplify the process and reduce the approval time from 240 days to 75 days. The new framework allows qualifying issuers to skip the 19b-4 process and directly submit S-1 documents, potentially implementing as early as September.

SOL ETF May Become the Focus:

The SEC has requested Solana ETF applicants to modify their documents by the end of July, possibly expediting the approval process. Analysts predict that the probability of approval for SOL, XRP, and other altcoin ETFs could reach 95%, potentially becoming the third category of spot cryptocurrency funds after Bitcoin and Ethereum.

Delays and Controversy Coexist:

Although the SEC has postponed decisions on some ETFs (such as DOGE and HBAR) until October, the industry accuses it of “silent delays” damaging market confidence. Institutions like VanEck are calling for the restoration of the “first-come, first-served” policy to ensure fairness.

Political and Regulatory Shift:

Republican leadership is pushing the SEC to adjust its strategy, reduce enforcement actions, and reorganize the cryptocurrency team, signaling support. The market anticipates that Trump’s policies may further benefit cryptocurrency ETF approvals.

Outlook: If the new framework is implemented, altcoin ETFs may experience a surge, but short-term volatility risks remain, requiring attention to the critical decision window in October.