SEC Commissioner Hester Peirce recently articulated her position on the regulation of spot Bitcoin ETFs (Exchange-Traded Funds) in the U.S. In a conversation with Bloomberg, Peirce highlighted that she sees “no reason for [the SEC] to stand in the way of a spot Bitcoin ETF“​​. Her statement suggests a possible readiness within the SEC to move forward with the approval of such ETFs, which has been a topic of considerable discussion within the cryptocurrency and investment communities. This stance is seen as a positive signal for major crypto firms and has led to increased optimism in the market, with stakeholders anticipating the approval of spot Bitcoin ETFs​​.

The SEC’s process for deciding on spot Bitcoin ETF applications was a key focus of Peirce’s discussion about the agency’s approach to cryptocurrency asset regulation. This discussion took place during an interview with Bloomberg’s Kailey Leinz and Sonali Basak on November 21​​. Peirce’s comments have been interpreted as signaling a potential approval of the first spot Bitcoin ETF, hinting at an evolving stance within the regulatory body concerning the approval of Bitcoin ETFs​​.

Moreover, Peirce has stated her belief that the SEC should have approved a Bitcoin ETF a long time ago, emphasizing that the SEC should not be in the business of approving or rejecting applications based on the merits of the underlying investment. This reflects her broader perspective that the SEC’s role should not include making judgments about the investment itself​.