New SEC Chairman Takes Office! The Fate of 72 Crypto ETFs About to Be Revealed

The U.S. Securities and Exchange Commission (SEC) welcomes new Chairman Paul Atkins, potentially heralding a shift in cryptocurrency regulation. Atkins was nominated by Trump and confirmed by a Senate vote of 52 to 44, contrasting sharply with the hardline stance of former Chairman Gary Gensler with his market-friendly position.

**72 Crypto ETFs Awaiting Approval**

Currently, the SEC is facing 72 applications for cryptocurrency ETFs, including Bitcoin, Ethereum spot ETFs, as well as products related to altcoins and meme coins. Analysts point out that Atkins needs to decide on key issues such as the staking rules for Ethereum ETFs and the operational mechanisms of spot funds. The market speculates that the surge in applications may be a strategy by the industry to push for approval during this leadership transition.

**Regulatory Direction May Shift to Easing**

Gensler has repeatedly questioned the value of altcoins, delaying or rejecting multiple ETF applications. However, Atkins' appointment has led the industry to expect that regulation may ease, especially for tokens beyond Bitcoin and Ethereum. Some analysts even claim that the SEC is becoming the “ally of the crypto industry.”

**SEC Dismissals Attract Attention**

As Atkins takes over, the SEC has dismissed or concluded several cryptocurrency lawsuits involving companies like Coinbase, Ripple, Kraken, among others. These companies had previously donated over $85 million to Trump’s inauguration committee, raising discussions about the SEC's independence. The stringent regulatory strategy of the SEC during the Biden era may now face adjustments.

**What Will Future Regulatory Directions Be?**

Atkins served as an SEC commissioner from 2002 to 2008, known for supporting market innovation. His upcoming decisions will impact the regulatory direction of the $2.8 trillion crypto market, and the industry is closely watching whether there will be substantial reforms or just a brief adjustment under the political cycle.