Incoming SEC Chair to Weigh More Than 70 Crypto ETF Filings—Including Solana and XRP
Incoming SEC Chair Paul Atkins will face a significant number of crypto-related applications, with 72 crypto-linked exchange-traded funds (ETFs) awaiting feedback for approval to list or list options. These applications cover a wide range of cryptocurrencies, including Solana, XRP, and meme coins. Atkins, confirmed as SEC Chair by the Senate, is expected to lead a collaborative regulatory approach to crypto. Despite his previous support for deregulation, he may need to make critical decisions regarding which cryptocurrencies can be approved as commodity-based trusts. Last year, the SEC approved spot Bitcoin and Ethereum ETFs, raising questions about the regulatory status of other cryptocurrencies. Asset managers are seeking feedback on applications for 15 different cryptocurrencies beyond Bitcoin and Ethereum. The SEC has clarified that it generally does not consider meme coins as securities but has not determined their suitability for Wall Street. Decisions on assets like XRP can be delayed until mid-October.
