The US Securities and Exchange Commission opened a new chapter for crypto ETFs on June 30, 2026, releasing Release No. 33-11426 and asking the public how “novel” ETF products should be regulated. Crypto-linked funds sit at the center of that review. The move could shape how future altcoin ETFs, staking-yield funds, and other nontraditional products reach retail investors in the US.
A formal rulemaking process has started
The SEC launched a 60-day public comment period to build a formal framework for ETF products that go beyond standard equity funds. The agency is assembling a regulatory record before rewriting parts of the rulebook that governs how unconventional ETFs can be offered to the public.
Crypto products are a main driver behind the review. According to the source material, prediction market ETFs triggered the broader process, while staking-yield funds and altcoin basket ETFs are also directly within scope.
Why the timing matters for pending applications
Older ETF rules were built for stock-based products. Crypto ETFs raise different issues, including staking, custody, smart contracts, and assets that do not fit neatly into legacy categories. That makes the wording of the next framework important for both issuers and regulators.
In May 2026, about 24 event-contract ETF filings were paused as the SEC reviewed untested structures such as staking-yield products and altcoin baskets. The effect is already visible in active filings. Morgan Stanley’s applications for Ethereum and Solana staking ETFs remain under review while the agency works through the framework.
Several key changes had already cleared part of the path
This review did not begin from scratch. On March 17, the SEC classified 16 crypto assets as commodities, opening the ETF pipeline for tokens including SOL, XRP, ADA, LINK, AVAX, and DOGE. That step removed a major legal obstacle that had weighed on new crypto ETF approvals.
The agency also determined that staking activity conducted through Proof of Stake does not constitute a securities transaction, which cleared another path for staking ETF products. On timelines, potential approval windows were shortened from as long as 240 days to as little as 75 days, allowing faster launches once the rule structure is settled.
What this means for investors and issuers now
The June 30 action is procedural rather than final. Existing Bitcoin and Ether ETF holdings are not affected. New altcoin ETF launches, though, may move more slowly during the review period. For issuers, that means a temporary wait. For the market, a clearer framework could eventually reduce the regulatory uncertainty that has held back product development.
Staking ETFs tied to PoS assets, including SOL and ETH, remain in a holding pattern until the SEC finishes the next stage of its rule design.
What to watch in the next phase
The comment period runs through early September 2026. After that, the SEC is expected to publish a proposed rule package. A separate legislative track is also moving: the CLARITY Act, which would write the commodity classification of those 16 crypto assets into federal law. The source notes that Polymarket assigns a 72% chance of the bill being signed into law in 2026.
For the next phase of US crypto ETF approvals, two points stand out: the early-September deadline for comments and any Senate action related to the CLARITY Act.