‘Crypto Mom’ says U.S Bitcoin ETF long Overdue for Approval

Deepshikha  |  Apr 1, 2021

“Crypto Mom,” a title that was unofficially assigned to Hester Peirce, the U.S SEC Commissioner by crypto users for her never-ending support for the digital currencies and Bitcoin ETF might once again be paying off to the crypto space. The commissioner who recently sat down with Forbes addressed a lot of crypto-related questions that users have been itching to know.

Crypto Mom Supports Bitcoin

Among the many important Bitcoin-related questions Hester answered, her response to the possibility of a BTC Exchange Traded Fund ETF being approved is one of the most notable ones.

The US investors who are looking forward to benefiting from the perks of a BTC ETF now have some hopes that the recent proposals will be potentially approved. As per the report, the SEC acknowledged VanEck’s Bitcoin ETF, which is now awaiting a final verdict in April.

The commissioner Says Bitcoin ETF Approve a Long Time Ago

The commissioner acknowledged that approving a BTC ETF in the United States should have been done a long time ago. According to her, the standards set for Bitcoin ETF proposals may have been too high. This implies that all previous rejection of Bitcoin ETF proposals has partly been caused by their unrealistic demands. She said :

“My view has been that we’re overdue on approving one of these things. I also think we’ve dug ourselves into a bit of a difficult hole by setting standards for approval that are difficult to figure out how to satisfy. So I really don’t know where we’re going to go.”

Reminding the general public that it’s important to note that the price of Bitcoin does not influence the decision-making process, she added: 

“What the price of bitcoin is doing is really not the business of the SEC. That’s not what we look at when we’re looking at other underlying markets.”

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