No Reason to Stop a Spot Bitcoin ETF, SEC Commissioner Says

The Bitcoin community’s year-long anticipation surrounding the potential approval of a spot Bitcoin ETF has received a significant boost. SEC Commissioner Hester Peirce recently stated that there is “no reason for the regulator to stand in the way of a spot Bitcoin ETF.” This declaration injects another jolt of liveliness to the ever-frenzied discourse surrounding the potential of a spot Bitcoin ETF in the United States.

Amid heightened anticipation and excitement, the possibility that the United States Securities and Exchange Commission (SEC) could approve the first spot Bitcoin ETF is growing. Securities and Exchange Commissioner Hester Peirce supports spot Bitcoin ETF and hopes for less litigation in establishing crypto regulation. In the latest interview with Bloomberg, Commissioner Peirce reiterated her stance: there's no reason for the agency to stand in the way.

However, no word on which ETF will get approval first has been released. Nearly six years have passed since the Commission issued, via authority delegated to the Division of Trading and Markets, its first order disapproving an application.

Peirce has been a vocal critic of the SEC's approach to Bitcoin ETFs, stating that the decade-long approval process for spot Bitcoin ETFs was “terribly mismanaged” at the time of the approval. Her comments suggest a growing internal pressure within the SEC to finally approve a spot Bitcoin ETF.

While the future remains uncertain, Peirce's continued support adds significant weight to the argument that a spot Bitcoin ETF is not only possible but also increasingly likely. The Bitcoin community watches with bated breath, hoping that the SEC will heed her words and finally open the doors to this much-anticipated financial product.