XRP and Ethereum have moved to the center of a major regulatory shift in the United States, after fresh signals from the US Securities and Exchange Commission (SEC) triggered claims that up to $4.7 trillion in capital may now be unlocked for the crypto market.
XRP, Ethereum Lead As Analyst Points To SEC Policy Reversal
On March 18, 2026, crypto analyst @Noalphalimits posted a detailed breakdown following remarks from Paul Atkins of the SEC, who said that most crypto assets are not securities—signaling a sharp shift from the agency’s previous enforcement stance.
Supporting this shift is an official SEC document outlining “digital commodities” as crypto assets whose value is tied to the functional operation of decentralized systems rather than the managerial efforts of a central party. Within that framework, a list of 16 assets—including XRP and Ethereum alongside Solana, Cardano, Dogecoin, Avalanche, Aptos, Bitcoin Cash, Hedera, Algorand, Litecoin, Polkadot, Shiba Inu, Stellar, Tezos, and Chainlink—was highlighted as falling under this category.
The same framework also introduced a five-category structure covering digital commodities, digital collectibles, digital tools, stablecoins, and digital securities, while clarifying that staking, airdrops, and mining are not treated as securities activities.
Analyst Raises $4.7 Trillion Claim, Outlines Market Chain Reaction
The analyst combined two key data points to support a claim that $4.7 trillion has been unlocked in the crypto market following the SEC’s latest stance. The first is the market capitalization of 16 identified assets, estimated at over $1.8 trillion. The second is $2.9 trillion in institutional capital that, according to the analyst, had remained sidelined due to regulatory uncertainty. He believes this barrier is now removed, effectively “unlocking” that capital.
Building on this, the analyst described a step-by-step market impact already beginning to form. The first stage involves the potential collapse of ongoing SEC lawsuits against exchanges such as Coinbase and Kraken, as well as the long-running case involving Ripple and XRP. These cases were originally based on claims of unregistered securities offerings, a position now challenged by the updated classification.
The next phase centers on exchange-traded funds, where commodity status is seen as creating a clearer regulatory path. This could accelerate filings for spot ETFs tied to assets like XRP, Solana, Cardano, and Avalanche, with major firms such as BlackRock, Fidelity, and Grayscale expected to play a role.
Further implications extend to trading infrastructure and institutional access. US exchanges may expand listings, increasing liquidity and tightening spreads, while financial institutions, including Goldman Sachs, JPMorgan, and Morgan Stanley, gain clearer entry points into crypto markets through custody and trading services. At the same time, staking could return to US platforms.
Despite these developments, the analyst noted that the shift remains an SEC interpretation, not an established law. With legislative efforts, including a draft bill referenced by Senator Tim Scott, still pending, the durability of this regulatory direction remains uncertain, leaving the market to respond within what may be a limited window of clarity.
Featured image created with Dall.E, chart from Tradingview.com
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