Bitcoin ETF statement from Hester Peirce

Commissioner Hester Peirce's statement says the SEC's approval of multiple applications to list and trade spot bitcoin exchange-traded products ends a decade-long saga that she calls unnecessary and consequential. She argues the Commission treated bitcoin ETP applications differently from comparable ETPs, and that the approval came only after a court ruling in Grayscale's case. She notes that bitcoin futures ETFs were allowed to trade in 2021 and 2022, and that the Commission's approval order cites the correlation between CME bitcoin futures and spot prices as the basis for now finding fraud-prevention measures adequate.