According to reports by Wu, SEC Commissioner Hester Peirce stated in an interview that the approval process for a spot Bitcoin ETF is 'severely mismanaged.' She criticized the regulatory agency for having 'weak explanations for its change of mind.'
Peirce urged market participants to be patient with the approval of exchange-traded products (ETPs) for cryptocurrencies. She pointed out that the SEC is dealing with multiple lawsuits and other issues, and emphasized that SEC approval does not mean the product is a good investment; investors should make their own judgments.
