SEC Commissioner Hester Peirce stated that the Ethereum ETF approval course of won’t be the same as Bitcoin, as the SEC has discovered a number of classes from the spot Bitcoin ETF saga.
In an interview at the moment with Zack Guzmán, Peirce stated that the SEC shouldn’t have to be persuaded by a court docket to approve crypto-backed ETFs ultimately. Peirce talked about that the regulators will change their approval course of for ETH ETF candidates, and they’re going to make common client and market concerns, as it does with all ETF merchandise.
“We shouldn’t want a court docket to inform us that our strategy is bigoted and capricious to ensure that us to get it proper.”
– Hester Peirce, SEC Commissioner
The Commissioner additionally expressed her frustration over the lengthy delays in Bitcoin ETF approvals, as she all the time thought these merchandise met the necessities for approval way back.
Peirce additionally make clear the SEC’s X account hack, which beforehand posted the faux approval submit, resulting in a short market manipulation. She believes the hack may not have occurred if the SEC hadn’t constructed up a lot consideration round these approvals and that the company might’ve prevented this by utilizing its common strategy to ETF functions.
The dearth of heightened anticipation will be a key consideration in Ethereum ETF approvals, as the SEC shouldn’t be constructing hype round a regulatory resolution.
Peirce additional emphasised that approving spot Bitcoin ETFs doesn’t essentially imply that the SEC will change the way it regulates crypto. She additionally talked about that the company isn’t within the enterprise of policing crypto, relatively its focus can even be on regulating securities merchandise based mostly on crypto that trades on securities exchanges, simply as it does with the gold market.
