Republican SEC Commissioner Hester Pierce has spoken out against previous decisions by the Securities and Exchange Commission (SEC) to deny a license to a Bitcoin ETF.

And SEC Commissioner Hester Pierce believes a Bitcoin ETF is likely to be accepted.

SEC Commissioner Hester Pierce considers Bitcoin ETF to be acceptable

According to Pierce, Bitcoin is a steadily and rapidly growing market that the SEC has underestimated for years. Now, with the demand for Bitcoin ETFs growing and frantic, it’s clear that the SEC’s earlier statements about rejecting crypto ETFs are just excuses.

“I think if we applied our standards the same way we did other products, we would have approved one or more of them… With each passing day that we’ve used them, the previous use of disapproval seems to be decreasing. “Pierce told CNBC.

The SEC commissioner questioned the SEC’s double standards regarding the lengthy, rigorous, and complex approval process of ETFs for digital assets versus minimally filtering bond ETFs or general cargo. Shortly after Pierce predicted another delay or rejection by the SEC, officials went public with a statement confirming the beginning of a thorough investigation of the market to make the necessary changes.

SEC ignores Bitcoin ETF despite proven success in other countries

In previous years, the SEC backed its rejection of a Bitcoin ETF by stating that the market was too far away to operate in an ETF and that a market as small as Bitcoin was at risk of being tampered with. This forced investors to turn to private companies like Grayscale to track Bitcoin. However, Bitcoin hit a trillion dollar market cap at the height of its bull cycle, and its institutional acceptance is growing despite regulatory uncertainty.

North American countries have approved a number of Bitcoin ETFs, the most popular of which is the Purpose Group. Bitcoin ETFs have proven successful as institutional investor demand for these products is at an all-time high.

Bitcoin’s weakness is also its strength, meaning that regardless of being a volatile digital currency, Bitcoin’s volatility allows for faster and larger increases. The passive nature of the Bitcoin ETF will enable lower cost ratios, resulting in higher returns in this “small market”.

Given the strengths and successes of the Bitcoin ETF and the strong arguments of Republican SEC Commissioner Hester Pierce, the Bitcoin ETF is likely to be accepted in the not-too-distant future.

The Commissioner is certain that this will happen in the US at some point – but she has remained silent about the time frame. “I am optimistic that it will happen. But I can’t give you a time frame, ”concludes Pierce.

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