Paul Atkins has been sworn in as the new chairman of the U.S. Securities and Exchange Commission (SEC). His nomination was put forward by U.S. President Donald Trump and approved by the Senate.
Atkins has identified the establishment of a clear and comprehensible regulatory framework for digital assets as his priority. He emphasized his intention to focus on enhancing market transparency and strengthening investor protection.
Atkins’ appointment marks a shift in the SEC’s direction. His approach differs from that of former head Gary Gensler, who often relied on “regulation by enforcement.”
According to Bloomberg analyst Eric Balchunas, there are 72 applications under review at the SEC for launching ETFs based on various altcoins.
There are now 72 crypto-related ETFs sitting with the SEC awaiting approval to list or list options. Everything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between. Gonna be a wild year. Great roundup from @JSeyff pic.twitter.com/IHTqqxeH35
— Eric Balchunas (@EricBalchunas) April 21, 2025
“Everything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between. It’s going to be a wild year,” he stated.
Balchunas also noted that while inclusion in an exchange-traded instrument grants access to the largest market, it does not guarantee demand.
Having your coin get ETF-ized is like being in a band and getting your songs added to all the music streaming services. Doesn’t guarantee listens but it puts your music where the vast majority of the listeners are. https://t.co/zO9CiGwjzF
— Eric Balchunas (@EricBalchunas) April 21, 2025
Head of Research at Sygnum Bank, Katalin Tischhauser, expects that the total inflow into altcoin-based ETFs will range from several hundred million to $1 billion.
On April 16, investors withdrew $169.9 million from spot Bitcoin ETFs, ending a two-day streak of inflows.