Today, the United States Securities and Exchange Commission (SEC) has moved to withdraw all 19b-4 filings, which touches a large part of the current crypto exchange-traded fund (ETF) submissions up for evaluation.
According to the latest intel, ETF projects tied to Solana (SOL), Cardano (ADA), Ripple (XRP), Litecoin (LTC), Polkadot (DOT), Dogecoin (DOGE) & Ethereum (ETH) were affected by the change. Does this mean earning yield on a crypto ETF just got way more difficult?
Spot ETFs Still In Play Despite Legal Setbacks
Deciphering the implications of SEC’s withdrawal of these ETFs, it can be said that ETF items with staking capability are not coming any time soon. Surely, the crypto community will have to rely on the late October – early November, 2025 decision-making on the Spot price-tracking ETFs.
Solely considering ETF pitches linked to the digital asset’s Spot market value, the SEC is likely to expand their altcoin ETF range, judging from the estimations by Bloomberg’s top analysts, as well as the public’s vote. With Bloomberg’s Eric Balchunas dishing out 95% odds of an approval by year-end, bettors on PolyMarket second this opinion.
The first one to come out will be the Grayscale XRP ETF, due for an October 18, 2025 settlement. With the largest American financial regulator recently sealing the deal with Ripple Labs for a $50 million fine, regulatory clarity is at its peak. However, the geopolitical market conditions remain uncertain due to the tariff roller-coaster.
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The SEC requested issuers to withdraw 19b-4 filings for spot ETFs tracking XRP, Cardano (ADA), Solana (SOL), and others like LTC and DOGE, due to new generic listing standards that streamline approvals and make individual filings unnecessary.
Staking features for these altcoin ETFs, which would allow yield generation, are not supported under the new generic standards; approvals will be spot-only, excluding staking to avoid securities classification risks.
It resets timelines, shifting focus to S-1 registrations; the SEC can now approve or reject at any time without fixed deadlines, potentially speeding up spot ETF launches but delaying staking indefinitely.
Filers like Bitwise, 21Shares, VanEck, Franklin Templeton, Grayscale, CoinShares, and Canary Capital had to withdraw proposals for XRP, ADA, SOL, and related ETFs, following the September 29, 2025 announcement.
Positive for spot approvals (95% odds by year-end per analysts), paving the way for faster launches under generic rules, but staking remains off the table, limiting yields for investors.
