Paul Atkins Officially Starts His Role as SEC Chair and the Cryptocurrency Industry is Watching Closely

Paul Atkins has officially been sworn in as the new chair of the U.S. Securities and Exchange Commission (SEC) and the cryptocurrency industry is watching him closely

Paul Atkins has officially commenced his role as chair of the U.S. Securities and Exchange Commission (SEC), and the cryptocurrency industry is closely monitoring his activities.

Atkins's schedule is set to be full as he begins his role at the SEC, with over 70 cryptocurrency exchange-traded funds (ETFs) still pending his approval or rejection.

In a statement released after being sworn in on Monday, Atkins expressed his anticipation for ensuring that "the U.S. is the best and most secure place in the world to invest and do business."

The crypto industry is keenly interested in seeing how quickly new chair can process the pending applications for crypto ETFs.

Former Acting Chair Mark Uyeda made swift progress in reviewing some of the applications, but none have yet been officially approved or rejected, and at this stage, all eyes are on Atkins to make the critical decisions.

According to senior Bloomberg ETF analyst James Seyffart, there are currently 72 crypto-related ETFs on a list that is being compiled.

As of Monday, there are 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

Among the cryptocurrencies on the list, the native token of the XRP Ledger, XRP, has the highest number of filings.

On Monday, veteran asset management firm Franklin Templeton filed an application with the SEC for a bitcoin futures ETF. Prior to this, asset manager Bitwise filed the first-mover application for an XRP ETF.

Another cryptocurrency that has seen successful filings in recent weeks is Solana (SOL), the native coin of the Solana blockchain.

There have also been filings for meme coins, which was initially a divisive option in the crypto space when the conversation first popped up under former SEC Chair Gary Gensler.

However, once U.S. President Donald Trump nominated Paul Atkins to take the SEC chairmanship, members of the crypto community were optimistic about the possibility of meme coin ETFs.

This optimism led to the submission of applications for meme token ETFs, including one from Grayscale for a Dogecoin (DOGE) ETF and a filing from 21Shares for a Polkadot (DOT) ETF.

Many in the crypto space will be watching to see what happens next with these 72 pending crypto ETF applications.

Many in the crypto space will be watching to see what happens next with these 72 pending crypto ETF applications.

After Trump nominated Atkins to take the SEC chairmanship, the crypto space celebrated, given his background as a pro-innovation advocate and his past comments about blockchain technology.

During his Senate confirmation hearing, Atkins stated his belief that "clear rules of the road benefit all market participants." Interestingly, many crypto leaders have been urging the SEC under Gensler to provide clear rules on how to operate in the industry.

"I look forward to ensuring that the U.S. is the best and most secure place in the world to invest and do business. And I will work tirelessly to support the SEC’s critical mission to protect investors and maintain stable, fair and efficient markets," he said in a statement.

Atkins also expressed his commitment to establishing a "firm regulatory foundation for digital assets."

JUST IN: President Trump’s nominee for SEC Chair Paul Atkins says he will create “firm regulatory foundation for digital assets.”

This comment comes as the Gensler SEC has been the subject of criticism for what some view as an overreach in its regulatory capacity.

However, in terms of his stance on crypto regulation, Atkins appears to be supportive of an overhaul of regulations that hinder market growth, which aligns with the priorities of many crypto leaders.