$SOL

The U.S. Securities and Exchange Commission (SEC) is preparing a uniform rule to simplify the listing of spot cryptocurrency exchange-traded funds. This step comes as applications related to cryptocurrencies such as Solana, XRP, Dogecoin, Polkadot, and the Trump meme coin await final approval.

The updated framework aims to replace the current approach of studying each case individually, which relies on the 19b-4 exemption process. This process often delays the launch of exchange-traded funds by up to 240 days.

Under the new system, the SEC can shorten the timeline to about 75 days by applying a single general rule to all listings.

A senior executive at one of the exchange-traded fund issuers told Reuters that the SEC and exchanges are still negotiating the final wording. Once that is completed, exchanges are expected to submit their filings under the unified structure within days or weeks.