SEC Commissioner Hester Peirce, better known as ‘Crypto Mom’ by the crypto community for her positive attitude toward cryptos, has urged crypto investors and holders “not to hold their breath” waiting for regulators to approve the Bitcoin ETF.
Speaking at the Digital Asset Investment Forum, Peirce said the approval of Bitcoin ETFs is possible. However, she noted that the final decision date can be announced tomorrow or even two decades from now. In her own words, the commissioner said:
“Definitely possible could be 20 years from now, or it could be tomorrow. Don’t hold your breath. The SEC took a long time to [establish] Finhub. It might take even longer to approve an exchange-traded product.”
She urged the community to keep an open mind towards cryptocurrency adoption.
Pierce also shared her views regarding the institutionalization of bitcoin and the future of cryptocurrency. She noted that institutional investors are becoming more and more interested in cryptos. Therefore, she stressed the need to promote institutionalization in the space.
“I think we need to encourage institutionalization in crypto space. That’s not what the people in the space want, but I think there are institutional folks who want to be in this space […] And the best way that we can offer retail investors to get into this space is through a place that’s more institutionalized,” she said:
Crypto Mom added that crypto regulation is needed, but it is essential that it does not kill innovation. Thus, he urged everyone to obey laws that govern digital currencies.
“I want to make sure that the doors to innovation are open wide enough, and they’re not too constrained by regulation,” she stated.
It’s worth remembering that Pierce was one of the dissenting voices that challenged the SEC’s decision to reject a proposal by Cameron and Tyler Winklevoss to list shares of what could have been the first-ever bitcoin ETF.