Currently, US spot crypto ETFs are limited to Bitcoin and Ethereum, but analysts expect new approvals this year
Key points overview
- New SEC Chairman Paul Atkins will review over 70 crypto ETF applications after taking office
- Including funds linked to Dogecoin, Pengu, Solana, XRP, and Melania meme coins
- After SEC postponed XRP ETF resolution in March, final decision can be extended to mid-October
When Paul Atkins officially takes charge of the US Securities and Exchange Commission, he will face a tsunami of crypto-related applications awaiting review. bloomETF analyst Bloomberg analyst Eric Balchunas noted that 72 crypto-related exchange-traded fund applications are currently waiting for feedback, including options listing requests.
"This will be a crazy year," he wrote on X platform (formerly Twitter) on Monday, with applicants ready to launch funds for various assets from Solana The First Lady mmeme coin. About two weeks ago, the US Senate voted to confirm Atkins as the SEC chairman nominee nominated by Trump. The swearing-in ceremony is expected to be held soon, marking the official of start collaborative regulation of the crypto field under new new leadership.
Although Atkins advocated for relaxregulation his tenure at the SEC, analysts say this crypto-friendly veteran may need to make several first-time rulings, especially regarding which cryptocurrencies can be approved for listing as commodity trusts. Balchunas did not immediately respond to Decrypt's request for comment.
Last year, the SEC approved spot ETFs for Bitcoin and Ethereum under under the leadership of former chairman Gary Gensler. While these approvals were a milestone for industry raised Which cryptocurrcryptocurrencies should be considered as commodity-regulated, thus able to trade on Wall Street like gold and other assets.
>Chairman Mark The uySEC has some regulatory uncertainty. The agency stated in February that it generally does not consider meme coins as securities but did not specify whether they are suitable for Wall Street financial products. For assets like XRP, the SEC does not need to make an immediate decision after Atkins takes office - after postponing the XRP ETF resolution in March, the final decision can be extended to mid-October.
