The U.S. SEC is set to revamp the applications for spot crypto ETFs, allowing institutions to invest in some of the most promising cryptocurrencies such as Solana and TRUMP.

It took the SEC over a decade to authorize the initial round of spot Bitcoin ETFs, with the first application being submitted by the Winklevoss Twins in 2013, which was subsequently rejected due to manipulation concerns and high volatility. By 2023, the SEC, led by Gary Gensler, approved nine spot Bitcoin ETFs in early 2024, followed by a few Ethereum ETFs shortly after.

As of July 8, 2025, ETF managers in the U.S. handle more than $147 billion in shares with BlackRock being the primary issuer. Institutions had spent upwards of $216 million on Bitcoin-backed ETF shares before that day.

Changes to the ETF Application Process

The SEC is aligning the approval process to be more efficient, replacing the lengthy two-step application procedure with a simplified one-step registration.

• Current Process:

  • First, submit a 19b-4 filing (exchange rule amendments).
  • Followed by an S-1 registration for the fund.

• New Framework:

  • A single S-1 filing will suffice; if the SEC does not object within 75 days, the fund can be listed.

This is expected to drastically reduce processing times and uncertainty for applicants, actively addressing unique issues tied to crypto investments, such as staking and redemption methods.

Potential for Spot Solana ETF Approval

As of now, there are over 72 applications for crypto ETFs with hopes pinned on a likely 99% chance that the SEC greenlights a spot Solana ETF by the end of 2025, according to insights from Polymarket.

In essence, this new framework could significantly boost capital inflows into the cryptocurrency market, positioning it for future growth.