Grayscale and a16z Press for Faster Crypto ETF Reviews as Schwab and Jane Street Seek More Guardrails

A split has opened in comments to the US Securities and Exchange Commission (SEC) over how quickly new crypto exchange-traded products should reach the market. Grayscale Investments and Andreessen Horowitz want reviews tailored to each product and shorter, more predictable timelines.

Charles Schwab and Jane Street, by contrast, have stressed public transparency and the mechanics that keep ETF prices aligned with their holdings.

The agency asked for views in late June on “novel ETFs,” a loose label covering funds tied to crypto, commodities, private assets, leverage, single stocks, blockchain features, or event contracts.

Officials wanted input on investment-company status, portfolio limits, disclosures, and the registration path.

The 60-day window closed August 31. The request was exploratory: it created no new rule and set no deadline for a decision.

Grayscale, a16z, and the Crypto Council for Innovation argued against treating every new product as one category.

Bitcoin and ether funds operate under listing standards, custody arrangements, and disclosure practices that differ sharply from private-asset vehicles or prediction-market contracts.

A single extra layer of restrictions, they said, would slow products that already have a compliance record.