The US Senate has confirmed Paul Atkins as the new chair of the Securities and Exchange Commission. Senators approved the appointment on Wednesday with a 52-44 vote. 

Atkins is expected to shift the agency’s approach to financial oversight. He plans to ease regulatory requirements, scale back corporate disclosure rules, and continue the commission’s new pro-crypto stance. 

SEC Has a Pro-Crypto Chair

Since last week’s Senate hearing, there have been some doubts about Paul Atkins’ appointment. This was largely due to his significant crypto exposure as an investment leader. 

However, the Senate has decided today with a tight vote.

The leadership change follows a period of major transition at the agency. Mark Uyeda, who served as acting chair after Gensler’s departure, launched a fast-paced overhaul of crypto policy. 

“Confirmed, 52-44: Confirmation of Executive Calendar #61 Paul Atkins to be a Member of the Securities and Exchange Commission for the remainder of the term expiring June 5, 2026,” wrote the Senate Cloakroom.

Under Uyeda, the SEC dismissed several major enforcement actions tied to digital assets. The agency also declared that certain crypto sectors — including stablecoins, proof-of-work mining, and meme coins fall outside its jurisdiction.

Some of these areas have financial links to the Trump family. Their ventures include meme coin projects and connections to World Liberty Financial, a firm backing its own stablecoin. 

Atkins is expected to formalize these regulatory shifts and oversee any new standards that may follow from pending legislation.

“Atkins may have made history tonight as the first SEC commissioner to get confirmed by the Senate three times. Once in 2002, then again in 2003, and now in 2025,” wrote Eleanor Terrett.

The SEC has already begun loosening several other rules. Uyeda delayed implementation deadlines for policies introduced during Gensler’s term. 

He also revised rules on shareholder proposals, making it harder for activists to force issues onto corporate ballots. 

The agency withdrew its defense of rules that required companies to disclose climate-related risks and emissions.

Atkins will take over a smaller agency. Around 500 staff have accepted voluntary resignations or buyouts. This has been part of the Trump administration’s broader effort to shrink federal agencies.

After several delays, the SEC approved options trading on BlackRock’s iShares Ethereum ETF. This effort was initiated by Nasdaq last summer, and today was the Commission’s final deadline to confirm or reject it.

Ethereum’s price grew more than 14% today and this bullish development could help sustain these unrelated gains for the foreseeable future.

Ethereum ETF Gets Options Trading

Since the Ethereum ETF first won approval, it’s had a large impact on crypto markets. As the market has matured, several issuers have spent the last few months trying to get options trading approved as well.

After the SEC’s previous delay, the Commission had to make a firm decision by today’s deadline, and it decided to approve these options.

“The Commission is publishing this notice to solicit comments… from interested persons, and is approving the proposed rule change… on an accelerated basis,” the SEC’s release claimed.

Options are financial derivatives that grant the holder the right, but not the obligation, to buy or sell an underlying asset at a predetermined price before a specified expiration date.

In the context of the iShares Ethereum ETF, options trading enables investors to speculate on or hedge against the price fluctuations of BlackRock’s Ethereum Trust without directly transacting in the ETF itself.

Options trading can attract a broader range of investors. This includes institutional players seeking sophisticated instruments to manage risk and exposure in the crypto market.

Nasdaq filed this particular application in the summer of 2024, but it has faced a series of delays. Still, this formal approval aligns fairly well with the market’s expectations.

The price of Ethereum hardly budged after this announcement. The announcement was largely overshadowed by Trump’s tariff pause, which caused gains of over 14%.

That isn’t to say that Ethereum ETF options trading is insignificant, of course. This approval will bring several key advantages to Ethereum, like institutional legitimacy, liquidity, and investor access.

Tariff fears recently pulled over $3 million from the altcoin’s spot ETF market. So, this development might encourage a bullish resurgence.