According to Decrypt, Securities and Exchange Commissioner Hester Peirce has expressed her belief that the SEC should not stand in the way of a spot Bitcoin exchange-traded product (ETF) approval. In a recent Bloomberg interview, Peirce stated that she has thought for many years that there is no reason for the SEC to prevent a spot Bitcoin ETF. The approval of a Bitcoin ETF would allow buyers to gain exposure to the digital asset without the need to buy or hold coins directly. Crypto-native asset managers have been attempting to get a Bitcoin ETF approved by the SEC for the last decade, but all applications have been rejected so far, mainly due to concerns about market manipulation in the crypto industry. However, the entry of BlackRock, the world's largest asset manager, into the Bitcoin ETF space has led to speculation that the financial giant may eventually succeed in getting an ETF approved. Blockchain analysts at CryptoQuant have previously stated that a spot Bitcoin ETF could lead to a $1 trillion boost for Bitcoin and other digital assets.

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