Hester Peirce, a member of the US Securities and Exchange Commission (SEC), talked about Bitcoin. Peirce “The SEC should have approved a Bitcoin ETF a long time ago” said.
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“Crypto mom” Hester Peirce, one of the leading Bitcoin proponents, also known as the coin, believes that her institution should have given the green light to a BTC ETF years ago. According to him, the reasons for the SEC are getting weaker.
In an interview with CNBC, Peirce commented on Bitcoin ETFs and whether the SEC could eventually approve such a product. Saying that this is one of his most frequently asked questions, Peirce said his methods are now obsolete after the SEC repeatedly rejected a Bitcoin ETF:
Peirce also noted that regulators take an old-school approach because they are not used to reviewing more modern and innovative developments. However, he believes that the cryptocurrency market has matured somewhat over the past decade. That’s why a BTC ETF can work now.
As previously reported, the SEC has received numerous applications from various companies trying to launch a Bitcoin ETF. However, almost all of them have been rejected so far. The commission is still reviewing a few but continues to delay the final decision, as in VanEck’s most recent application.
However, Canada has taken a significantly more positive approach as it already has three BTC ETFs in operation as of this year. Interestingly, they got off to a positive start with investors investing millions in the first few months after launch.