Crypto industry group urges SEC to streamline novel ETP approvals

The SEC asked the crypto industry what it thinks about regulating novel ETFs. The crypto industry had thoughts. Grayscale Investments, Andreessen Horowitz (a16z), and the Crypto Council for Innovation (CCI) have each submitted comment letters to the Securities and Exchange Commission in response to its Request for Comment on Novel ETFs, published June 30, 2026. The collective message: don’t treat every new exchange-traded product like it’s the same animal, because they’re not. The three organizations are pushing the SEC to preserve its existing classification frameworks for exchange-traded products rather than applying a one-size-fits-all regulatory approach. What the comment letters actually say Grayscale, which operates one of the largest digital asset fund platforms by assets under management, has a direct commercial interest in how this shakes out. The firm has launched multiple digital asset ETPs, including GBTC and ETHE, and its Digital Large Cap Fund tracks a basket of crypto assets including Bitcoin and Ether. a16z, which has previously submitted detailed comment letters on crypto regulatory frameworks, approached the issue from a broader innovation perspective. CCI, the tr...