Matt Mena, a crypto research strategist at 21Shares, a leading provider of cryptocurrency exchange-traded products (ETPs), believes a new cryptocurrency task force led by U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce could transform the regulatory landscape for crypto exchange-traded funds (ETFs). The strategist described:

The newly established crypto task force, led by Commissioner Hester Peirce, could accelerate the approval of a broader range of crypto ETFs, including SOL, XRP, LTC, DOT, and DOGE.

Peirce, often considered one of the SEC’s most pro-crypto advocates, has consistently pushed for clearer and innovation-friendly regulations. Her leadership could help remove barriers such as asset classification and improve processes for ETF registration.

Mena pointed out that this task force has the potential to address some of the SEC’s primary concerns, including custody, investor protection, and market integrity. He stated, “By promoting structured disclosure frameworks, practical registration paths, and enhanced regulator-industry engagement, this task force could create a more transparent approval process, addressing key SEC concerns such as custody, investor protection, and market integrity—just as was done for spot Bitcoin ETFs.”

Proposed actions by the task force include clarifying whether assets like SOL and XRP are securities or commodities, developing standardized surveillance agreements to mitigate manipulation risks, and setting clear eligibility criteria for ETF inclusion.

The strategist further emphasized that a regulated and streamlined pathway for crypto ETF approvals could bring significant benefits. Institutional and retail investors, who have so far lacked access to a familiar investment vehicle for digital assets, would find new opportunities through ETFs. These funds could encourage broader adoption of digital currencies while driving price discovery, much like bitcoin exchange-traded products have done in recent years. If successful, the task force could serve as a catalyst for integrating cryptocurrencies into mainstream financial markets, unlocking new capital flows and fostering innovation.

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