Ethereum Climbs as SEC Embraces DeFi Principles, Fueling Broader Crypto Rally

Ethereum (ETH) jumped 6% to $2,840, following a notable shift in rhetoric from the U.S. Securities and Exchange Commission (SEC) in favor of decentralized finance (DeFi). The surge came on the heels of remarks by SEC Chairman Paul Atkins during the June 9 Crypto Task Force Roundtable, where he highlighted the importance of preserving decentralization in the evolving digital asset landscape.

Atkins emphasized the need to reduce regulatory friction in DeFi, stating that “greater flexibility” should be given to users engaging in self-custody and on-chain activities like staking. He described economic freedom and innovation as core values of the DeFi movement, aligning them with traditional American ideals.

The regulatory support didn’t just move Ethereum. DeFi tokens also rallied sharply—Uniswap (UNI) soared 25%, SKY (formerly MakerDAO) rose 16%, and Aave (AAVE) gained 15%. The sector’s overall market capitalization jumped 10% to $150 billion.

Meanwhile, broader crypto markets posted modest gains. Bitcoin (BTC) ticked up 2% to $109,800, XRP moved to $2.31, and Solana (SOL) rose 1.7% to $158. Despite the volatility, the total crypto market cap remained steady at $3.55 trillion.

In ETF news, U.S. spot Bitcoin ETFs reported $386 million in inflows, while spot ETH ETFs attracted $53 million. ETH ETFs have now recorded 15 consecutive days of net inflows, nearing $837 million in total.

With regulatory clarity seemingly on the horizon and institutional capital moving in, Ethereum may be entering a new phase of growth in the crypto cycle.