Hester Peirce, Securities and Exchange Commissioner, has affirmed support for the regulator to give a green light to a bitcoin ETF, according to Forbes.
The bitcoin ETF gives retail investors exposure to the currency without having to go through the whole process of purchasing and securing the crypto.
Last year, Pierce brought forward a proposal that allows crypto startups a 3-year grace period before subjecting them to US securities regulations.
The SEC commissioner pointed out that it is not the work of the regulator to decide whether a product is good or bad for investors, who in most cases are keen on building portfolios.
Bitcoin price has been down by about 50% from its peak of $64,000 in April, a situation that makes the SEC hesitate in deciding on the pending bitcoin ETF application. BTCUSD is up +0.03%