SEC Commissioner on spot Bitcoin ETFs: “No reason to block”

SEC’s Hester Peirce supports spot Bitcoin ETF and hopes for less litigation in establishing crypto regulation.

In the latest interview with Bloomberg, Commissioner of the U.S. Securities and Exchange Commission (SEC), Hester Peirce, hinted at support and approval for a spot Bitcoin ETF. Peirce said the SEC has no reason to stand in the way of a Bitcoin ETF, with the commissioner adding that her stance on this matter has been the same for years. 

Peirce confirmed that every application is being judged on its own specific set of facts and circumstances, but said she sees no reason for the SEC to deny a Bitcoin ETF on the stock market. The commissioner also mentioned that the SEC might slow down on pursuing legal proceedings as the only way to establish crypto regulations, and she’s actively advocating the agency to use other means for pursuing regulatory actions.

BlackRock and Grayscale have also reportedly met with the SEC to discuss their Bitcoin ETF applications. The SEC still has 8-10 ETF applications to decide, which could have a major impact on the crypto market if approved.