SEC Commissioner fed up with Bitcoin ETF opposition
SEC Commissioner Hester Peirce has expressed her displeasure over the agency’s reluctance to approve a Bitcoin exchange-traded fund (ETF) on U.S. soil.
Pierce, who has earned herself the title of “Crypto Mom,” aired her views at the just concluded online “The B Word” conference on Wednesday.
For some clarity, a Bitcoin ETF would allow retail investors in the U.S. to gain exposure to Bitcoin without directly purchasing or holding the flagship crypto.
This is not the first time that the commissioner is making a case for Bitcoin ETFs or cryptocurrency regulations. In March, she warned that refusing to give a green light to a Bitcoin ETF product in the U.S could force investors to seek riskier and less reputable investment options. Last year, Pierce also proposed a “Safe Haven” program that would give crypto startups a three-year moratorium to become decentralized and meet other benchmarks before being fully subjected to U.S. regulatory laws.
While other regions such as Canada and Brazil have approved several crypto ETFs, the U.S. SEC has continued to drag its feet on ETF matters. The commission has on multiple occasions postponed its decision to approve or reject a crypto ETF product.