- The SEC has issued fresh guidance on disclosure expectations for crypto ETPs.
- ETP filings must include details that would enable more oversight by the SEC.
- Users are concerned about a potential overreach by the SEC on blockchain matters.
The U.S. Securities and Exchange Commission has published a new outline detailing what it expects issuers to include when filing for Exchange-Traded Products (ETPs).
The latest publication raised crypto users’ curiosity over the possibility of a Solana ETP soon. On Tuesday, July 1, 2025, the Commission’s Division of Corporation Finance issued fresh guidance on disclosure expectations for crypto ETPs.
According to the SEC’s Corporation Finance Division, ETP applicants must now include specific details on how they calculate their Net Asset Value (NAV), how they select their benchmarks, and what their custody practices are. They must also disclose all service provider agreements, their governance structure, and any potential conflicts of interest. Analysts who have reviewed the press release consider it a clear step by the SEC to create a more structured and predictable oversight process for crypto ETPs, a framework that was missing in previous years.
Related: Solana ETF with Staking to Launch July 2, Boosting Momentum for SOL Price Surge
In the meantime, the SEC claimed that its statement is part of ongoing efforts to provide clarity on the application of the federal securities laws to crypto assets. The Commission described ETPs as investment products that are listed and traded on national securities exchanges. According to the SEC, ETPs represent trusts that hold assets, which consist of spot crypto products or derivative instruments that reference crypto assets.
Crypto community reaction
Although most observers consider the SEC’s latest publication a step forward in achieving crypto asset ETPs, some respondents highlighted a potential overreach by the Commission that is against the fundamentals of blockchain technology. One such respondent thinks a bureaucratic checklist that includes NAV calculations, custody rules, and governance disclosures mirrors the same overreach that crushed innovation under former US President Joe Biden.
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The respondent applauded the current administration’s crypto initiatives that are positioning the US as a blockchain leader, but faulted regulatory agencies for resurrecting compliance hurdles disguised as “investor protection.” According to the respondent, real progress requires market-driven frameworks, not SEC micromanagement of service provider agreements or benchmark selections.
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