The USA and its concerned bodies took nearly 10 years to approve BTC ETFs. Ten years was a long time, and people were not psyched. Many investors openly rejected the idea and presented their critique. One such person is Hester Peirce.
Pierce is the new commissioner of the US SEC and the designated head of the Crypto Task Force. He has some harsh words for the previous SEC’s stance on crypto tokens. In his words, the organization could have fast-tracked the decision and not taken so much time.
Varied ETF Approval
Hester openly stated that the BTC ETF approval was too managed and controlled, which is why the state took so long to approve it. Hester also noted that the run is not over yet. Hester believes that there is more to come.
However, Hester believes the SEC has not yet decided how to proceed. Host of a crypto-talk asked Hester whether the SEC wil club together these decisions. Hester replied, “I don’t know how these filings will be done, but I think one thing to remember is that the whole process (of Bitcoin ETF approval) was terribly managed.”
Studies show that close to 80 active crypto-focused ETFs are waiting for approval. Therefore, the SEC needs to make a decision soon regarding the approval of these exchanges.
As of now, reports suggest that the US Agency overseeing this process is swamped and may ask for aid. Therefore, the road is still long, but there is some hope.
