Summary
- Hester Peirce, a commissioner of the US SEC, reportedly criticized the SEC's response regarding Bitcoin ETPs as being mishandled.
- It was emphasized that the SEC faced criticism for its prolonged delays in approving spot Bitcoin ETFs, which was seen as a negative stance toward virtual assets.
- Commissioner Peirce stated that the issuance and redemption of spot-based crypto ETFs would eventually be permitted.
Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), criticized the SEC's handling of Bitcoin exchange-traded products (ETPs) as being inadequate.
According to Watcher Guru on the 26th (local time), Peirce acknowledged, "The SEC really mishandled the Bitcoin ETP." This is interpreted as criticism against the SEC, which has delayed approval of spot Bitcoin ETFs for years.
Previously, the SEC approved the first spot Bitcoin ETF early last year, but had been criticized for the approval delays, which were viewed as stemming from a negative stance on virtual assets (cryptocurrencies).
Meanwhile, Commissioner Peirce also expressed the expectation that the issuance and redemption of spot-based crypto ETFs will eventually be permitted. The spot redemption method allows ETF holders to receive the underlying crypto asset in-kind upon selling the ETF.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
