SEC Commissioner Hester Peirce mentioned that the Ethereum ETF approval course of received’t be the identical as Bitcoin, because the SEC has realized a number of classes from the spot Bitcoin ETF saga.
In an interview at this time with Zack Guzmán, Peirce mentioned that the SEC shouldn’t must be persuaded by a court docket to approve crypto-backed ETFs finally. Peirce talked about that the regulators will change their approval course of for ETH ETF candidates, and they’ll make common shopper and market concerns, because it does with all ETF merchandise.
“We shouldn’t want a court docket to inform us that our strategy is unfair 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 pretend approval submit, resulting in a quick market manipulation. She believes the hack won’t have occurred if the SEC hadn’t constructed up a lot consideration round these approvals and that the company may’ve prevented this through the use of its common strategy to ETF purposes.
The dearth of heightened anticipation shall be a key consideration in Ethereum ETF approvals, because the SEC shouldn’t be constructing hype round a regulatory determination.
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 is just not within the enterprise of policing crypto, reasonably its focus may even be on regulating securities merchandise primarily based on crypto that trades on securities exchanges, simply because it does with the gold market.