Bitcoin NewsLaw and Legislation

SEC Must Decide About VanEck Bitcoin ETF the Same Day Pro-Crypto Commissioner Hester Peirce Will Speak About This Subject… Good News Ahead?

Everybody in the crypto-verse is focused on expectations and speculation. Which currency will rise, which will fall, which company will adopt blockchain technologies… and which will be the first Bitcoin ETF approved by the SEC.

SEC Must Decide About VanEck Bitcoin ETF the Same Day Pro-Crypto Commissioner Hester Peirce Will Speak About This Subject... Good News Ahead? 1
Commissioner Hester M. Peirce (source SEC)

Although all previous attempts have failed, there is a light at the end of the tunnel. The US Securities and Exchange Commission is having a conference in New York on May 21 to discuss the future of ETFs and how they could affect the financial industry.

However, it is important to note that Hester “Crypto Mom” Peirce is responsible for giving the keynote speech. This new commissioner gained popularity within the ecosystem after raising her voice against the SEC’s refusal to approve a crypto ETF.

Peirce commented that this postures affected the industry and were harmful to innovation.

SEC is Slowly Giving More Reasons to be Optimistic

SEC Comm. Elad Roisman
Elad Roisman

Along with Peirce, another recent change in the SEC board of directors gave a dose of optimism to entrepreneurs and enthusiasts as Elad Roisman the new commissioner is also openly a crypto supporter.

The fact that it is Ms. Peirce who gives the speech is a reason to be optimistic. The fact that they have chosen a date so close to the most important Blockchain event on the continent as well, but no doubt the fact that the SEC has to announce its verdict on VanEck’s request for a Bitcoin ETF that very same day is (for those who have a little faith) one of the reasons to be more excited.

Despite the motives for optimism, the truth is that the majority of the community expects the SEC to delay its decision once again. In a very pessimistic scenario, they may even reject the application.

The Community is Maturing

As reported by Ethereum World News, a few days ago the SEC delayed its rule on a Bitcoin ETF proposed by Bitwise. The fact that they have not given an opinion on VanEck’s proposal makes us imagine that this ETF might have a better fate:

However, something changed from the previous unsuccessful attempts. Now the community seems to have matured a bit, and despite expectations, the news of the delay did not change the market sentiment and BTC remained bullish.

And that alone is good news.

About author

Lanz is a freelance journalist and native of Venezuela. He is a lawyer, specialist in strategic planning, and professor whose work has appeared in various cryptocurrency and blockchain publications. Email Jose directly at lanzjose@pm.me
Sign up for our Newsletter