Summary
SEC Commissioner Hester Peirce believes that spot ether ETFs won’t require a court battle for approval. She stated that the SEC should be applying regular consideration to these products and that they shouldn’t need a court ruling to determine that their approach is arbitrary and capricious. This comes after the SEC recently approved several spot bitcoin ETFs, leaving the fate of spot ether ETFs uncertain. While BlackRock, Ark 21Shares, and Grayscale have expressed interest in spot ether ETFs, SEC Chair Gary Gensler has not shown the same enthusiasm for further approvals. Peirce criticized the SEC for not approving these products sooner and stated that the agency had squandered opportunities to do its job.
Key Points
1. Securities and Exchange Commission Commissioner Hester Peirce believes that spot ether ETFs won’t require a court battle for approval.
2. Peirce emphasizes the importance of applying regular consideration to these products, without the need for a court ruling to determine the SEC’s approach.
3. While the SEC has recently approved spot bitcoin ETFs, the fate of spot ether ETFs remains uncertain, as SEC Chair Gary Gensler appears less inclined to approve further listings for crypto asset securities.