SEC Commissioner Peirce Says Market Is Ready for a Bitcoin ETP

U.S capital markets are ready for a bitcoin exchange-traded product, U.S. Securities and Exchange Commissioner Hester Peirce said on CoinDesk TV Thursday.

  • The regulator playfully known as “crypto mom” said people are already eager to trade a bitcoin ETP, “and so if we don’t give them the natural way, which I think would be an ETP, they are going to look for other (less optimal) ways to do it.”
  • Peirce also pushed back in her interview against an emerging government narrative that cryptocurrency is a dangerous rail for terrorist financing. She cast doubt on the size of the alleged problem and insisted there was no way to ban bitcoin outright.
  • Pierce said she looks forward to working with SEC chairman nominee Gary Gensler once the former MIT digital currency professor is confirmed by the Senate.