United States SEC Commissioner Hester Pierce says spot Bitcoin ETF approval “comes only begrudgingly,” after more than 10 years since the first application was submitted.
Spot Bitcoin exchange-traded funds (ETF) could have very well faced an unfavorable outcome today if it weren’t for the Grayscale appeal last yea, according to SEC Commissioner Hester ‘Crypto Mom’ Peirce.
In a statement on Jan.10, Peirce outlined that issuers have attempted to get a spot Bitcoin ETF across the line for more than a decade, and it could very well have extended well beyond if not for “the DC Circuit-ex-machina.”
Peirce was referring to the U.S. District Court of Appeals overruling the SEC’s decision to deny Grayscale Investment’s spot Bitcoin ETF application in October 2023.
