The U.S. SEC has listed "registrants providing crypto-related services" as a key review target in its 2025 review priorities.

the US Securities and Exchange Commission (SEC) has identified "registrants providing services related to digital assets" as a priority for review in 2025. This includes advisors recommending spot Bitcoin ETFs and Ethereum ETFs. The examination of registrants will focus on activities involving digital assets such as solicitation, recommendation, advice, trading, and other activities, where such digital assets are offered and sold as securities or related products (such as Bitcoin or Ethereum exchange-traded products).