The U.S. Securities and Exchange Commission is reviewing how novel exchange-traded funds, including crypto ETFs, should be labeled, disclosed and processed after opening a public comment window on June 30, with responses due August 31. Grayscale, 21Shares and a16z have urged the regulator to accelerate ETF reviews and permit confidential draft filings, arguing that public applications can be copied by competitors before launch. Jane Street and Charles Schwab warned that faster or less transparent reviews could weaken market preparation, liquidity and retail-investor protections. Multicoin and Jito also requested rules allowing staking receipt tokens to be held in spot crypto ETPs. The request is tied to a July 2, 2026 Federal Register notice, Release No. 33-11426 and comment file S7-2026-24, which examine whether crypto-linked and other unconventional funds fit Rule 6c-11 and the Investment Company Act of 1940. The U.S. market has 174 crypto asset-related ETFs, with BlackRock's IBIT managing about $61 billion, roughly 38% of the sector. The SEC has not approved or rejected any fund through this process.