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XRP Crypto companies urge SEC to speed up ETF reviews and allow confidential drafts to be submitted
Several cryptocurrency companies are lobbying the U.S. Securities and Exchange Commission (SEC) to speed up the review process for exchange-traded funds (ETFs) and allow private submissions of early-stage documents before making the scrutiny public. These companies are pushing regulators to shorten approval timelines, allowing issuers to submit preliminary documents in a confidential form before facing public scrutiny.
This claim is reflected in a comment letter filed with the SEC under Rule Setting File S7-2026-24. Several companies have urged regulators to simplify the crypto-ETF process from application to launch. The dual requests for "accelerated review" and "confidential draft submission" were originally reported by The Block.
Why crypto companies want the SEC to speed up ETF review
Fundamentally, the request is aimed at ETF review timelines, not broader crypto policies. Faster review means the SEC will commit to a shorter or more predictable window of time between issuers submitting products and agency approval or rejection.
Issuers prefer tighter schedules because uncertainty is costly. A lengthy review process can take up legal architecture design work, delay fee revenue, and provide competitors with the opportunity to launch similar products first. The move is in line with the current competitive trend to accelerate the launch and expansion of crypto investment products, after companies have urged the SEC to avoid imposing one-size-fits-all restrictions on new ETFs. In addition, it reflects ongoing friction between issuers and regulators, including Grayscale's ongoing dispute with the SEC over the future of crypto ETFs.
How confidential draft submission changes the crypto ETF process
The confidential draft submission mechanism allows issuers to privately submit preliminary registration documents to the SEC and obtain staff feedback before the documents become public records. This mechanism already exists in many traditional initial public offerings (IPOs) and securities filings.
Companies want to open up this private channel because early feedback is more valuable when not publicly disseminated. The confidential draft allows issuers to resolve structural or disclosure issues with staff before competitors and the market see product terms.
For the crypto ETF process, this change will change the visible timing of file submissions. More applications may be completed behind the scenes, which means that fewer applications for semi-finished products will be seen by the public, and more products will be closer to market-ready status.
The comment letter submitted under the same file S7-2026-24 treats these two claims as an overall efficiency plan rather than separate requirements. This statement shows that companies believe that review speed and document confidentiality are two aspects of the same process issue.
It should be emphasized that this does not mean that approval for any particular product is imminent. These submissions are recommendations on how the SEC handles applications, are access and process level matters, and apply to future crypto ETF submissions, rather than rulings on any pending products. This distinction is crucial in markets where regulatory stance increasingly shapes market sentiment. For example, when ETF signals trigger XRP fluctuations in the broader macro risk context, this dynamic is clearly visible.
