U.S. cryptocurrency exchange-traded funds (ETFs) experienced significant outflows as the Securities and Exchange Commission (SEC) reopened its application backlog after a prolonged shutdown. This trend, fueled by shifting regulatory signals and investor sentiment, saw Bitcoin ETFs see large withdrawals totaling $870 million on November 13th – second only to another record outflow last month. Ethereum ETFs also experienced declines over three consecutive days. However, Solana ETFs attracted notable inflows of $1.49 million, demonstrating selective confidence in the altcoin space despite broader market downturns. The SEC’s new guidance for pending crypto ETF filings following a shutdown will allow these applications to proceed smoothly, with major products like Solana, Litecoin, HBAR and XRP now poised to regain momentum. 2025 has seen Bitcoin ETFs experience volatility, while also seeing net asset values surge as the price of the asset rose considerably in 2024 before leveling off. With the SEC’s clearance of the backlog, applications for new crypto ETFs are expected to move forward. The SEC clarified that issuers do not need a delaying amendment. Issuers only need the language under Rule 473(b) or a new registration statement, and these filings will become effective after just 20 days. This signals a return to normalcy in the ETF market following the prolonged regulatory hiatus.