One of the Securities and Exchange Commission (SEC)’s most publicly pro-crypto members spoke on Monday about whether her agency is finally ready to approve a spot Bitcoin ETF in the United States.

While not offering specifics about her agency’s game plan, Hester Peirce—fondly known as “Crypto Mom” throughout the industry—said the regulator’s court loss to Grayscale is “obviously an important factor.”

“I’ve been thinking we should approve one for the last five years,” Peirce told CNBC’s Squawk Box on Monday. “The logic for why we haven’t has always mystified me.”

Grayscale, the owner of the world’s largest Bitcoin fund, sued the SEC in June 2022 for unfairly rejecting its application to convert its Grayscale Bitcoin Trust (GBTC) into a spot ETF, given that the agency had already approved similar futures Bitcoin ETFs for trading.

The court of appeals sided unanimously with Grayscle in August, agreeing that the SEC’s treatment of the firm was “arbitrary and capricious.” After 45 days, the SEC remained silent as it ultimately ran out of time to appeal the case.

The following week, the agency also abandoned it

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Author: Andrew Throuvalas

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