The cryptocurrency market in the US is about to enter a new turbulent phase as the new SEC Chairman, Mr. Paul Atkins, is set to officially take office. As soon as he takes over the position, he will have to deal with over 70 proposed crypto ETF applications, including notable names like Solana, XRP, Dogecoin, and even the meme coin Melania.
A flood of crypto ETF applications waiting for approval.
According to expert analysis, the SEC currently has up to 72 applications related to cryptocurrencies, including proposals for expansions like options related to already listed products.
This list is not limited to Bitcoin and Ethereum – the two coins that have had their spot ETFs approved since last year – but also extends to many other assets such as:
Solana (
Ripple
Dogecoin (
Pengu (a new meme coin)
Melania meme coin – reportedly related to First Lady Melania Trump.
This is the first time the SEC faces such a wave of diverse crypto ETF approval requests – which could radically change the landscape of digital asset investment in the US if some products are given the green light.
XRP and Solana – the next promising candidates?
In March, the SEC had previously delayed its decision on ETF applications related to XRP, and by law, the agency can push the final deadline to mid-October. With Mr. Paul Atkins taking office, investors are hoping to see a more open and friendly approach towards the crypto market.
Solana, meanwhile, has drawn significant attention from traditional finance due to its high performance and rapidly developing ecosystem. Many experts believe that if Solana’s ETF is approved, it could create a new wave of investment similar to the previously approved Bitcoin ETF.
Paul Atkins – New Chairman, new thinking?
Mr. Paul Atkins, appointed by President Donald Trump as the new SEC Chairman, is a proponent of market liberalization and has previously worked at the SEC.
Although known for a deregulatory tendency, Mr. Atkins is currently facing a difficult question:
How to determine which cryptocurrency qualifies to be recognized as a commodity and thus traded as an ETF like gold or oil?
His upcoming decisions will set a legal precedent for many types of digital assets, from foundational coins to meme coins.
Crypto ETFs – A new growth lever for the market?
The SEC's approval of Bitcoin and Ethereum ETFs last year marked a significant turning point, making it easier for traditional investors to access digital assets through more legal and safer channels. This also contributed to pushing Bitcoin prices to new highs in the first quarter of this year.
If ETFs for assets like Solana, XRP, or Dogecoin are approved, the crypto market could witness:
Massive capital inflows from traditional investment funds into major altcoins.
Increasing the legitimization of blockchain projects outside of Bitcoin and Ethereum.
Long-term growth for the crypto ecosystem, especially on exchanges like Binance.
Connecting with Binance users and the global market.
Binance users can expect many familiar assets to be listed as ETFs, thereby increasing liquidity and stability for these coins in the market.
The approval of ETFs for Solana, XRP, or Dogecoin would be a positive signal, increasing investment appeal even in a volatile market.
Financial products like ETFs not only help protect investors but also open the door for crypto to access traditional financial markets, where trading volumes reach trillions of USD.
⚠️ Risk warning:
Although crypto ETFs open up many new opportunities, the cryptocurrency market remains full of risks and high volatility. ETF approval decisions are still under evaluation and nothing is guaranteed. Users need to exercise caution, do their own research, and should not invest beyond their risk tolerance. Crypto is not suitable for all investors.