Latest Bitcoin ETF Update From SEC Commissioner Hester Peirce: No Tangible Outcome Yet
No Tangible Outcome On Bitcoin ETF, Says SEC Commissioner Hester Peirce
On CNBC’s Crypto Trader recently, the SEC Commissioner, Hester Peirce, had said there is no tangible outcome on Bitcoin ETF.
Speaking on the program hosted by respected cryptocurrency-influencer Ran Neu-Ner, about the reasons behind the rejected 9 Bitcoin ETF recently by the SEC which later recalled for possible consideration, Hester said:
“So what normally happens with these rule filings that exchanges file, which is how this was being considered, is that the staff will act on delegated authority, and then the SEC, the Commission which is the five of us, and now in the current status its four of us, can decide to pull up a decision that the staff made and to reconsider it at the Commission level and so that’s what happened here.”
When questioned on the appropriateness of rejecting then recalling a proposal, she said it was a fair standard used for proposals of this kind.
She as well said it is possible for the commission or a party to demand recalling a rejected ETF, claiming the same thing happened in this situation.
Hester Peirce revealed that SEC staffs were designing a plan to achieve the reconsideration, claiming afterward that there was no specific timeline for the 9 ETF rejected.
She then said:
“There’s no definite outcome of what could happen after the reconsideration so you know people can’t count down to one there’ll be a decision because it just it’s it’s pretty open-ended.”
Also, she was questioned on the VanEck ETF that was said to be due this month end, she said:
“Well so again because that is ongoing I really can’t talk about that one, in the sense of where that one stands, but you know as with other rule filings of this type the staff is doing a lot of work to consider the facts and circumstances of the rule filing.”
Forging ahead, Ran asked Hester on what she feels about Chairman Clayton’s statement on the news of accredited investors, she said:
“Well, I can’t really speak to what my fellow commissioners think about that topic. I will say that I think it’s an area where the accredited investors standard has served to prevent a lot of people from investing in certain segments of the market and so I think that I would like to see it broadened so that more people could invest in more types of investments.”