New US SEC Chair to Review 72 ETF Applications for SOL, XRP, ADA, DOGE and Others

• SEC Evaluates 72 New Cryptocurrency ETF Applications
• Solana and XRP are among the assets under analysis
• Paul Atkins' presidency could favor new approvals

Paul Atkins, recently confirmed by the Senate as the new chairman of the SEC, will begin his term by reviewing a record number of applications related to cryptocurrency ETFs. According to Bloomberg analyst Eric Balchunas, there are currently 72 applications awaiting review by the US regulator.

The filings include funds tied to digital assets such as Solana (SOL), XRP, Cardano (ADA), Dogecoin (DOGE) and others. These filings include both spot ETFs and requests to list options, demonstrating the growing market pressure for a greater diversity of products aimed at the cryptocurrency sector.

Balchunas commented on the movement through his profile on the X platform, formerly Twitter, stating: “It's going to be a crazy year”, in reference to the volume of applications filed and the potential impact on the ETF market in the United States.

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

Expectations are high for Atkins’ tenure. Known for his pro-market stance and his willingness to reduce regulations, the new SEC chairman is likely to adopt a more collaborative approach to dealing with cryptocurrency issues. However, deciding which digital assets will be classified as commodities — and therefore eligible for trading on Wall Street — will be one of the main challenges of his tenure.

Atkins’ appointment also marks a potential shift in tone from the previous administration under Gary Gensler. Under Gensler, the SEC approved the first spot ETFs for Bitcoin and Ethereum, a move that was seen as historic by the industry. However, the lack of clear guidelines for classifying other cryptocurrencies has created regulatory uncertainty.