US Crypto ETFs: When Will Paul Atkins Approve These 70+ ETFs?

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Paul Atkins has officially been sworn in as the new chair of the U.S. Securities and Exchange Commission (SEC). He ensured that “the U.S. is the best and most secure place in the world to invest and do business.” 

With over 70 cryptocurrency exchange-traded funds (ETFs) awaiting approval, Atkins’s leadership will be closely scrutinized by the crypto industry.

Crypto ETFs Await Decision Under Atkins

The SEC is currently reviewing 72 crypto-related ETFs, covering a broad spectrum of assets from XRP, Litecoin, and Solana, to Dogecoin, Penguins, and novelty tokens like 2x Melania. Despite the influx of altcoin and meme coin ETFs expected to hit the market this year, Bitcoin ETFs continue to dominate, holding 90% of global crypto fund assets.

According to Bloomberg ETF specialist Eric Balchunas, while altcoin ETFs will certainly see some attention, Bitcoin is likely to retain 80-85% of the market share in the long term, proving its enduring dominance in the crypto ETF space.

As institutional interest grows, with 80% of firms planning to increase crypto allocations by 2025, analysts caution that approval doesn’t guarantee success. Balchunas compared ETF approval to music streaming: “Your song might be on Spotify, but it doesn’t guarantee listeners.”

XRP and Solana Lead ETF Filings

XRP leads the list of crypto assets with the most ETF filings, including Bitwise’s early application and a more recent one from Franklin Templeton. Solana (SOL) has also gained traction, with successful ETF filings recently. Meme coin ETFs, including Grayscale’s Dogecoin (DOGE) ETF and 21Shares’ Polkadot (DOT) ETF, are also under review, adding to the growing list of products.

VanEck, a prominent global investment management firm, received SEC approval for its new “Onchain Economy ETF”, which will hold 30-60 stocks tied to the crypto sector, including mining companies, exchanges, data centers, and traditional finance entities.

Also Read :   XRP ETF News: Why Hasn’t BlackRock Filed it Yet?   ,

ARK Invest has added staked Solana to two of its ETFs, marking the first time U.S. investors can gain direct exposure to SOL through an ETF. As the SEC continues its review process, all eyes will be on whether these new products can spark the next wave of crypto adoption.

Final Thoughts 

The crypto community now waits to see whether Atkins’s SEC will approve these ETFs, as some of the underlying assets remain volatile. Will the new chair take a more cautious approach, or will he lead the charge for broader crypto market integration? Time will tell.