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Bitcoin Enthusiasts Excited About A Bitcoin ETF Approval When Crypto Mom Talks

ยท 18 May 2019 in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Cryptocurrency and Bitcoin (BTC) enthusiasts get excited when they hear that a crypto ETF could be approved. Specifically, they pay close attention to what Hester Peirce, a pro-Bitcoin U.S. Securities and Exchange Commission (SEC) commissioner, has to say about it. This time, she talked at the Consensus event about the SEC and the approval of a Bitcoin ETF.

Hester Peirce Talks About Bitcoin’s ETF

The U.S. Securities and Exchange Commission is going to take a decision on the VanEck Bitcoin ETF as soon as on May 21. Moreover, there is going to be a conference called ETFs Global Markets Roundtable in New York that will be discussing different topics regarding the ETF industry around the world.

Hester Peirce – who is also known as the crypto mom – is going to give the keynote speech at that conference. She is one of the most recognized crypto supporters at the SEC. It is worth mentioning that the SEC has recently delayed its decision on the Bitwise Bitcoin ETF and did not make any reference to the pending VanEck proposal.

There are some users and individuals that are thinking about Hester Peirce talking about the ETF and how it can be related to the approval of this investment tool. Nonetheless, the Roundtable event was already organized months ago, before the VanEck proposal that was delayed the first time. The community is currently expecting the SEC to delay once again the approval of a Bitcoin ETF.

In addition to it, the cryptocurrency analyst and lawyer, Jake Chervinsky, explained that the probabilities were 90% a delay, 9% a denial and just 1% chance of approval. About the approval of this Bitcoin ETF, Peirce explained that the time to approve one was just a year ago when several crypto ETFs were rejected by the regulatory agency in the United States.

About it, she said:

“Certainly the time is right, but there are still questions floating around the SEC that need to be answered as much as possible by you all.”

The approval of a Bitcoin ETF is something that the whole crypto community is waiting for and that would allow the digital asset to reach a larger number of users in the market.

Currently, each Bitcoin can be purchased for $7,300 and it has a market capitalization of $130 billion according to data provided by CoinMarketCap.

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