EddieJayonCrypto
11 Jan 24
The SEC finally approved the trading of spot Bitcoin exchange-trading funds (ETFs), as expected, following a long string of denials. Commissioner Hester Pierce, known as "Crypto Mom," issued a statement criticizing the agency's long wait and arbitrary treatment of applications for spot Bitcoin ETFs....
The US Securities and Exchange Commission (SEC) approved trading of spot Bitcoin exchange-trading funds (ETFs) following numerous denials. Known as "Crypto Mom," Commissioner Hester Pierce criticized the agency's treatment of applications for spot Bitcoin ETFs and highlighted the harms caused by the SEC's anti-crypto approach over the past decade.
The approval came after a U.S. Court of Appeals ruling in August, which led Commissioner Pierce to emphasize the negative impact on the industry and investors. The approval faced opposition from retail investors and an unstable legal environment, but SEC Chair Gary Gensler acknowledged the changed circumstances and supported the listing and trading of spot Bitcoin ETP shares.
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