‘Crypto Mom’ Hester Peirce: SEC should approve Bitcoin ETF soon

Hester Peirce, aka “Crypto Mom”, believes that the agency she works for – the US Securities and Exchange Commission – should have given the go-ahead for a Bitcoin ETF years ago. She argues that the SEC’s legitimacy is weakening.

Hester Peirce – Commissioner for the US Securities and Exchange Commission

In an interview with CNBC, Peirce commented on the hot topic of Bitcoin ETFs in the US and whether the regulator would approve such a product at some point.

This is “probably the biggest and most frequently asked question I get,” she says. However, with the SEC’s numerous rejections of an exchange-traded fund tracking BTC activities, Peirce said those methods have become obsolete.

“I think if we had applied the standards as we did with other products, we would have approved one or more of them. With every day that goes by, the reason why we have always refused in the past seems to get weaker and weaker. “

In addition, Peirce notes that regulators are taking an outdated approach as they are not used to looking at more modern and innovative developments. However, she believes the crypto market has matured quite a bit over the past decade, which is why a BTC ETF might work right now.

As previously reported, the SEC has received numerous filings from various companies trying to launch a Bitcoin ETF. So far, however, almost all of them have been rejected.

The committee is still considering a few but is still delaying a final decision, as was the case with VanEck’s recent motion.

At the same time, Canada has taken a significantly friendlier approach as there are three active BTC ETFs as of this year. Interestingly, they got off to a good start with investors allocating millions of dollars in the first few months after it was launched.

Annie

According to Cryptopotato

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