With Paul Atkins promising clearer rules, is the fog around U.S. crypto policy finally lifting?
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72 crypto ETF filings signal growing institutional interest beyond Bitcoin and Ethereum.
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SEC’s new leadership under Atkins may fast-track ETF approvals and regulatory clarity.
As the broader crypto market experiences renewed momentum, attention is turning to a wave of pending ETF applications that could reshape investor access to digital assets.
Eric Balchunas on pending crypto ETFs
Bloomberg’s senior ETF analyst Eric Balchunas highlighted the rising number of crypto-related ETF proposals awaiting SEC approval. The queue currently stands at 72 proposals. Fellow analyst James Seyffart compiled the list, confirming the substantial growth in applications.
Source: Eric Balchunas/X
These filings span a wide range of products, including spot ETFs, options-based offerings, and leveraged or inverse funds. Notably, major assets like Ripple [XRP], Solana [SOL], Litecoin [LTC], and Dogecoin [DOGE] are all represented. Unexpectedly, XRP tops the list with 10 filings, underscoring its rising popularity among fund issuers amid evolving market dynamics.
Despite mainstream crypto ETFs, other ETFs join the trail
While mainstream cryptocurrencies dominate the bulk of ETF filings, there’s a noticeable shift toward products inspired by internet culture and speculative trends. A new wave of risk-heavy offerings, such as leveraged and memecoin-themed ETFs, has emerged, capturing attention for their bold approach.
One standout is the “Melania 2x” ETF by Tuttle Capital, which exemplifies the rising appetite for novelty-driven crypto exposure. The filings come from a diverse mix of issuers, ranging from industry veterans like Bitwise, Grayscale, and VanEck to newer entrants such as Canarx, CoinShares, and Tuttle Capital.
As expected, the assets featured in recent ETF filings weren’t chosen arbitrarily; they reflect a mix of strong market capitalization, active user engagement, and heightened investor demand. Solana, for instance, has drawn attention not just for its price performance but also for its high-speed blockchain and expanding role in NFTs and DeFi. This evolving ETF landscape indicates that institutional interest is broadening beyond Bitcoin [BTC] and Ethereum [ETH], pointing toward a more diversified approach to digital asset exposure.
Will Paul Atkins adopt a different strategy compared to Gary Gensler?
That being said, with Paul Atkins’ leadership, the SEC also appears poised to take a more constructive approach to crypto regulation, with a renewed focus on providing clearer guidance for digital asset markets. Remarking on the same, Atkins recently told Congress,
“A top priority of my chairmanship will be to work with my fellow commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach.”
Needless to say, Atkins’ commitment to resolving longstanding industry concerns marks a sharp departure from the more rigid stance of his predecessor, Gary Gensler. This also raises optimism that a wave of ETF approvals could soon accelerate crypto adoption in the U.S. In fact, while the U.S. steps up its crypto game, international momentum is also building up. South Korea, for instance, is reportedly considering the approval of Bitcoin ETFs should Japan move forward with its own regulatory easing, signaling a broader, global shift toward embracing cryptocurrency investment products.
Conclusion
In conclusion, as the SEC under Paul Atkins navigates towards a more structured regulatory framework, the potential for rapid ETF approvals could not only enhance market access for investors but also signify a new era of institutional engagement in crypto. Stakeholders should remain vigilant as developments unfold, as they could reshape the landscape of digital asset investment in the coming years.
