New SEC chair Paul Atkins begins term as 72 crypto ETFs await approval
- Paul Atkins confirmed as SEC chair with 52-44 Senate vote.
- Crypto firms donated over $85 million to Trump inauguration.
- SECs new direction may favour altcoins and DeFi platforms.
The US Securities and Exchange Commission (SEC) has entered a new phase of crypto oversight with the appointment of Paul Atkins as its 34th chairman.
Nominated by President Donald Trump and confirmed by the Senate in a 52-44 vote earlier this month, Atkins is returning to the SEC with a clear messagemaking the US the most secure and attractive investment destination globally.
In his first public statement, he signalled that crypto regulation would be a central focus of his administration, marking a departure from former Chair Gary Genslers hawkish stance on altcoins.
Surge in crypto ETF filings under Atkins watch
Atkins arrival comes at a pivotal time for the crypto market. Since Gary Genslers resignation, the SEC has been flooded with a wave of crypto-related exchange-traded fund (ETF) filings.
According to data compiled by BeInCrypto, there are currently 72 pending applications awaiting review, spanning spot Bitcoin and Ethereum ETFs, altcoin funds, and meme coin-backed offerings.
ETF analyst Nate Geraci pointed out that several key issues now fall under Atkins jurisdiction. These include decisions around staking for Ethereum ETFs, in-kind creation and redemption mechanisms for spot funds, and rulemaking related to derivatives.
The sudden rise in applications is being interpreted as a strategic move by asset managers to capitalise on the shift in leadership.
Altcoins and meme coins may gain SEC favour
The contrast between Atkins and Gensler is already being felt. Gensler had argued that most cryptocurrencies lacked intrinsic value and were fuelled by hype, which he said made them unstable investment vehicles.
His tenure was marked by consistent pushback against altcoin and meme coin products, delaying or denying multiple ETF approvals.
Under Atkins, however, industry analysts believe there could be a regulatory thaw, especially for tokens beyond Bitcoin and Ethereum.
His market-friendly stance is raising expectations that several high-profile altcoin ETFs may be approved in the coming months. One analyst claimed the SEC had become a pro-crypto administration, reflecting the optimism within the industry.
Key lawsuits dropped under Trump-era SEC
Beyond ETFs, Atkins inherits an SEC that has recently seen several major crypto enforcement cases dropped or concluded.
Companies including Coinbase, Ripple, Kraken, Uniswap, and Yuga Labs reportedly had investigations or lawsuits closed in the months leading up to Atkins confirmation.
Public filings show these firms, among others, collectively donated over $85 million to Trumps inauguration committee, prompting scrutiny over the SECs independence.
The Biden-era SEC, under Gensler, had aggressively pursued these firms, alleging securities violations across various token offerings and staking services.
But the Trump-led pivot, now cemented by Atkins leadership, is being interpreted by legal experts as a broader retreat from that enforcement strategy.
What Atkins SEC means for crypto regulation
Paul Atkins previously served as SEC commissioner from 2002 to 2008. Known for advocating market deregulation and supporting innovation, his return signals a broader political shift in US financial regulation.
As the SEC oversees a $2.8 trillion crypto market, Atkins decisions over the coming months are likely to set the tone for how the agency treats decentralised finance, altcoins, and tokenised assets.
The crypto industry is now watching closely to see whether this new direction will lead to lasting regulatory reform or if challenges will resurface depending on the outcomes of ongoing political shifts in Washington.
Either way, the SECs near-term trajectory is now tied to Atkins interpretation of investor protection and market integrity in the rapidly evolving digital asset space.
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