SEC Commissioner Slams Delayed Bitcoin Spot ETF Approval

SEC Commissioner Hester Peirce has publicly criticized the lengthy approval process for Bitcoin spot ETFs, deeming it ‘severely mismanaged’ during a recent podcast discussion. She questioned the SEC’s rationale for approving an ETF in 2024, considering it lacking in justification. Peirce also emphasized the ongoing legal challenges and regulatory complexities facing the SEC, urging investors to remain patient while awaiting further developments in the cryptocurrency ETF market. Notably, approximately 80 crypto-related ETF applications are currently under review by the SEC.