SEC Opens 27-Question Review of Novel ETFs, Puts Crypto Products in Focus

The U.S. Securities and Exchange Commission (SEC) asked the public on June 30, 2026, to weigh in on how it regulates exchange-traded funds built around crypto assets, event contracts, and other nontraditional holdings.

Atkins added that “novel products raise novel questions.” He thanked sponsors for agreeing to delay launches of event contract ETFs while the commission reviews the category.

That pause came after Roundhill, Bitwise, and Graniteshares filed roughly two dozen ETFs tied to election outcomes, economic data, and other binary events. Those filings stopped moving forward voluntarily after the May statement.

The second area covers Rule 6c-11, the 2019 rule that created a standard path for most ETFs to list without individual exemptive orders. The SEC wants to know if the rule’s arbitrage and disclosure conditions hold up for novel holdings.

The third area covers Rule 485, which lets routine ETF registration updates take effect automatically within 60 to 75 days. The commission is asking whether that timeline gives staff enough room to review complex or first-of-their-kind products, or whether sponsors need a separate track for novel filings.

All comments submitted become part of the public record. The SEC has not set a date for any follow-up rulemaking and will review submissions before deciding on next steps.