Bitcoin ETF

Bitcoin

<p class="is-style-lead">SEC Commissioner Hester Peirce said that the Ethereum ETF approval process won’t be the same as Bitcoin, as the SEC has learned several lessons from the spot Bitcoin ETF saga.&nbsp;</p>
<p>In an interview today with <a href="https://twitter.com/zGuz/status/1749843472247410728" target="_blank" rel="noopener noreferrer nofollow">Zack Guzmán</a>, Peirce said that the SEC shouldn’t need to be persuaded by a court to approve crypto-backed ETFs eventually. Peirce mentioned that the regulators will change their approval process for ETH ETF applicants, and they will make regular consumer and market considerations, as it does with all ETF products.&nbsp;</p>
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 <p>“We shouldn’t need a court to tell us that our approach is arbitrary and capricious in order for us to get it right.”</p> <cite>– <a href="https://www.youtube.com/watch?v=b-LmqVMF8I0&amp;t=72s" target="_blank" rel="noopener noreferrer nofollow">Hester Peirce</a>, SEC Commissioner</cite>
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   <p lang="en" dir="ltr">NEW: SEC Commissioner Hester Peirce tells me the SEC won't repeat the same mistakes with ETH ETFs after fumbling Bitcoin ETFs:<br><br>"That's not how we're going to do our approvals … I think that kind of a lesson will certainly stick with us.<a href="https://t.co/QNu52Gmr3H" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/QNu52Gmr3H</a></p>— Zack Guzmán (@zGuz) <a href="https://twitter.com/zGuz/status/1749843472247410728?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 23, 2024</a>
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<p>You might also like: <a href="https://crypto.news/coinbase-faces-headwinds-as-bitcoin-and-etf-interest-dips-says-jpmorgan/" rel="noopener noreferrer nofollow"> Coinbase faces headwinds as Bitcoin and ETF interest dips, says JPMorgan </a></p>
<p>The Commissioner also expressed her frustration over the long delays in <a href="https://crypto.news/coinbase-faces-headwinds-as-bitcoin-and-etf-interest-dips-says-jpmorgan/" rel="noopener noreferrer nofollow">Bitcoin ETF</a> approvals, as she always thought these products met the requirements for approval long ago.</p>
<p>Peirce also shed light on the SEC’s X account hack, which previously posted the fake approval post, leading to a brief market manipulation. She believes the hack might not have happened if the SEC hadn’t built up so much attention around these approvals and that the agency could’ve avoided this by using its regular approach to ETF applications.&nbsp;</p>
<p>The lack of heightened anticipation will be a key consideration in <a href="https://crypto.news/sec-defers-decision-on-several-eth-etfs-to-may-2024/" rel="noopener noreferrer nofollow">Ethereum ETF</a> approvals, as the SEC shouldn’t be building hype around a regulatory decision.&nbsp;</p>
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<p>Peirce further emphasized that approving spot Bitcoin ETFs doesn’t necessarily mean that the SEC will change how it regulates crypto. She also mentioned that the agency is not in the business of policing crypto, rather its focus will also be on regulating securities products based on crypto that trades on securities exchanges, just as it does with the gold market.&nbsp;</p>
<p>Read more: <a href="https://crypto.news/sen-lummis-crypto-not-the-problem-bad-actors-are/" rel="noopener noreferrer nofollow"> Sen. Lummis: Crypto not the problem, bad actors are </a></p>

SEC Commissioner: Ethereum ETF approvals won’t be same as Bitcoin

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