During a July 21 appearance on CNBC’s “Squawk Box,” Securities and Exchange Commission (SEC) Head Paul Atkins shared that the SEC hasn’t officially declared Ethereum (ETH) a security, opting for an “informal” stance. He emphasized that the choice of incorporating ETH into corporate treasury reserves rests solely with individual companies.
Atkins further noted Ethereum’s essential role in the broader digital currency ecosystem, expressing encouragement over the market’s increasing adoption of assets like ETH.
He elaborated, stating:
“I believe this trend lays a solid foundation for future innovations.”
Ethereum Adoption by Corporations on the Rise
These comments from Atkins coincide with a growing trend of businesses integrating Ethereum into their treasury strategies, including instances of converting other crypto assets to ETH.
Bit Digital revealed on July 7 the successful completion of a three-month shift from holding only Bitcoin (BTC) to exclusively Ethereum. The company divested 280 BTC and generated roughly $172 million through a share offering to increase its ETH holdings.
Regulatory filings show the miner’s holdings jumped from 24,434 ETH on March 31 to around 100,603 ETH.
In a separate announcement on July 15, SharpLink Gaming confirmed it controls 280,706 ETH. This represents the largest known corporate Ethereum position, valued at approximately $867 million, surpassing even the Ethereum Foundation’s holdings.
Between July 7 and July 13, SharpLink purchased 74,656 ETH at an average cost of $2,852 per token and revealed that about 99.7% of their assets are being staked, resulting in 415 ETH in rewards since June 2.
Chairman Joseph Lubin described the treasury strategy as a form of “collective capitalism” fueled by an open, permissionless network.
Stablecoin Regulation and Retirement Plan Integration
Atkins also addressed the regulatory environment, commenting that the increased governmental scrutiny of stablecoins could serve as a de facto “seal of approval,” facilitating near-instant payment delivery for securities.
He suggested that on-chain settlements using regulated, dollar-backed stablecoins could significantly mitigate counterparty risks and reduce transaction expenses within U.S. capital markets.
The discussion also included retirement plan considerations. Atkins stated that individual investors are increasingly seeking opportunities to invest in private funds, specifically those with digital asset strategies, within their 401(k) accounts.
He advocated for a collaborative effort between the SEC and the Department of Labor to establish clear valuation, liquidity, and fee guidelines, which would allow fiduciaries to offer registered products to individuals saving for retirement.
“It’s crucial for individual investors to have reliable fiduciaries guiding their investment decisions,” he concluded.
Ethereum Market Data
As of 6:56 pm UTC on Jul. 21, 2025, Ethereum holds the #2 position by market capitalization. Its price has increased 0.75% in the last 24 hours. The market cap of Ethereum is currently $454.58 billion, with a 24-hour trading volume of $45.73 billion. Explore more about Ethereum ›
Crypto Market Summary
The total crypto market capitalization stands at $3.92 trillion, with a 24-hour trading volume of $209.63 billion as of 6:56 pm UTC on Jul. 21, 2025. Bitcoin currently dominates the market with 59.72%. Learn more about the crypto market ›