tl;dr
Hester Peirce, head of the SEC Crypto Task Force, criticized the decade-long spot Bitcoin ETF approval process as mishandled and urged patience amid ongoing regulatory delays. She highlighted that the SEC is managing litigation and complex policy issues related to digital assets. Peirce, known as "C...
Hester Peirce, head of the SEC Crypto Task Force, publicly criticized the decade-long, mishandled approval process for spot Bitcoin ETFs, urging patience amid ongoing regulatory delays and litigation. Known as "Crypto Mom," Peirce highlighted that the SEC is currently navigating complex policy issues and ongoing lawsuits related to digital assets, which contribute to the slow pace of crypto ETF approvals.
Peirce described the ETF review process as "terribly mismanaged," noting that such delays have alienated a generation of crypto product innovators. As of April 21, there are 72 ETF applications pending SEC decisions, many of which are expected to face delays until the October deadlines. She emphasized that the SEC's approval of crypto ETFs should not be seen as an endorsement of the investment value, urging investors to carefully make their own decisions.
Highlighting the broader regulatory environment, Peirce explained that the SEC is balancing heavy workloads, including litigation and policy deliberations, while engaging with industry stakeholders through meetings and roundtables. Despite the challenges, she encouraged market participants to remain patient and informed, underscoring that regulatory green lights are not investment recommendations but procedural approvals.