SEC Chair Confirmation Delayed, Crypto ETF Future Uncertain

Fox Business journalist Eleanor Terrett addressed questions on X regarding the confirmation timeline for Paul Atkins, the incoming U.S. Securities and Exchange Commission (SEC) chair. She noted that while many are awaiting his confirmation, the process remains delayed due to pending approvals of other administration officials.

Will Paul Atkins Join as SEC Chair?

“There are dozens of new administration members that need to be approved by the Senate, and cabinet members are usually the first ones to get confirmed,” Terrett stated. She highlighted that nine cabinet positions are still awaiting Senate votes, which has contributed to the delay in setting a hearing date for Atkins before the U.S. Senate Banking Committee. Once that hearing takes place, and if his nomination moves forward, a full Senate vote will determine his confirmation.

For context, Terrett pointed out that previous SEC chairs also faced delays in their confirmation processes. “Gensler was not confirmed by the Senate until April of 2021 after being nominated by Biden in January of that year. Jay Clayton was not confirmed until May 2017 after Trump nominated him in January 2017,” she noted.

I’m getting a lot of questions about when new @SECGov chair Paul Atkins will get confirmed and why it hasn’t happened yet, so I’ll address here.

There are dozens of new administration members that need to be approved by the Senate and cabinet members are usually the first ones…

— Eleanor Terrett (@EleanorTerrett) February 10, 2025

The delay has raised questions about how it might impact upcoming crypto-related ETF decisions. A user on X asked Terrett whether the approval process for new crypto ETFs would be influenced by Atkins’ confirmation and if approvals might be delayed until he takes over.

Responding to concerns, Terrett explained that ETF approvals follow a separate timeline. “Remember there’s a whole process for the ETFs too,” she wrote. The SEC operates under a structured timeline once it acknowledges 19b-4 filings for ETF proposals. “Once the SEC acknowledges the 19b-4 applications, a 240-day window opens for the agency to either approve or deny them.” Even if the SEC were to acknowledge new applications immediately, the final decision could extend until October.

Terrett also pointed out that the current SEC leadership, composed of Mark Uyeda and Hester Peirce, is seen as supportive of cryptocurrency. “Mark and Hester who are currently running shop are pro-crypto, so having them in charge is more or less the same as having Atkins in charge,” she stated.