The new SEC guidance invites a surge of applications for cryptocurrency exchange-traded funds, including those tied to Solana, XRP, and Donald Trump's memecoin. Chairman Paul Atkins, a Trump appointee, contrasts with previous leadership in supporting crypto investments. Crypto Insights Group's CEO anticipates a significant influx of capital into crypto investment products as the guidance indicates a more crypto-friendly SEC environment. This development follows the establishment of a new crypto task force aimed at creating a regulatory framework for crypto assets.
The guidance comes under the commission's new chairman, Paul Atkins, a Trump appointee who is a contrast with previous leadership that sought to block the approval of Bitcoin ETFs.
The new Trump-appointed SEC chairman Paul Atkins is one step closer to his vision of a decentralized finance movement after the SEC released new guidance this month giving asset managers more details on getting exchange-traded products tied to cryptocurrencies approved by the commission.
The floodgates are basically completely open right now as to what can be introduced, according to Crypto Insights Group CEO Andy Martinez, who anticipates much more capital coming into the crypto investment products.
It's also a marked departure from Atkins' predecessor, former SEC chair Gary Gensler, who faced a barrage of criticism over his handling of the crypto industry.
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