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SEC Commissioner Peirce Highlights Different Approach for Ethereum ETF Approvals

In an interview, SEC Commissioner Hester Peirce discussed the approval process for Ethereum ETFs, emphasizing that it would not follow the same path as Bitcoin. Peirce acknowledged that the SEC had learned valuable lessons from the prolonged saga of spot Bitcoin ETF approvals. She asserted that the SEC should not require court intervention to rectify an arbitrary and capricious approach, expressing confidence that the regulatory body would adapt its approval process for Ethereum ETF applicants.

Peirce underscored the need for the SEC to consider regular consumer and market aspects when evaluating ETF products, emphasizing a commitment to making informed decisions. The Commissioner conveyed her frustration over the extended delays in approving Bitcoin ETFs, indicating her belief that these products met approval requirements long ago.

Addressing the recent hack of the SEC’s X account, which posted a fake approval announcement causing brief market manipulation, Peirce suggested that the hack might have been avoided if the SEC had not generated excessive attention around such approvals. She highlighted the importance of avoiding heightened anticipation in Ethereum ETF approvals and cautioned against building unnecessary hype around regulatory decisions.

Peirce clarified that approving spot Bitcoin ETFs did not signal a shift in how the SEC regulates cryptocurrencies. The SEC’s focus remains on regulating securities products based on crypto traded on securities exchanges, akin to its approach in the gold market, rather than policing the broader crypto space.

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