Incoming SEC Chair to Weigh Extra Than 70 Crypto ETF Filings—Together with Solana and XRP – Decrypt

Incoming SEC Chair Paul Atkins could have an avalanche of crypto-related purposes to sift by when he formally takes management of the regulator.

Hopeful issuers now await suggestions on 72 crypto-linked exchange-traded funds within the U.S., together with requests to checklist choices, in response to Bloomberg ETF analyst Eric Balchunas.

“Gonna be a wild yr,” he stated on X, previously Twitter, on Monday, noting ETF hopefuls have positioned themselves to supply funds for property starting from Solana to the primary woman’s meme coin.

Atkins was confirmed as U.S. President Donald Trump’s decide to steer the Securities and Alternate Fee by a full Senate vote round two weeks in the past. His swearing-in ceremony is predicted to happen quickly, marking an official begin to the SEC’s push to manage crypto collaboratively underneath new management.

Though Atkins was a proponent of deregulation throughout his earlier stint on the SEC, analysts say the crypto-friendly veteran could need to make a number of first-time calls, particularly with regards to which cryptocurrencies may be accredited for listings as commodity-based trusts.

Balchunas didn’t instantly reply to a request for remark from Decrypt.

Final yr, the SEC accredited spot Bitcoin and Ethereum ETFs underneath former SEC Chair Gary Gensler. Whereas the approvals represented a landmark second for the crypto business, it raised deeper questions on which cryptocurrencies ought to be regulated as commodities, and due to this fact be allowed to commerce on Wall Road in a similar way to property like gold.

In complete, asset managers are on the lookout for suggestions on purposes tied to fifteen completely different cryptocurrencies past Bitcoin and Ethereum. These embody purposes centered on digital property with massive valuations like Solana, Dogecoin, and XRP—alongside comparatively nascent ones just like the Solana-based tokens Bonk, Pengu, and Official Trump.

Beneath Performing SEC Chair Mark Uyeda, the company has chipped away at some regulatory uncertainty. In February, the SEC stated that it usually doesn’t contemplate meme cash to be securities, nevertheless it didn’t advise whether or not they had been becoming for Wall Road wrappers.

For property like XRP, the SEC gained’t be pressured to decide instantly after Atkins takes the reins on the company. After punting on XRP ETFs in March, the company can delay its ultimate choice till mid-October.

Edited by Stacy Elliott.