Earlier this week the Commission on securities and exchange Commission (SEC) rejected re-apply brothers Tof Tyler and Cameron Winklevoss (Tyler, Cameron Winklevoss) to open bitcoin ETF.
Almost immediately after that, the SEC Commissioner Hester pierce (Hester Peirce) released a public statement of disagreement with the decision of the Commission. In a message on Twitter, citing a statement she wrote:
“Apparently, bitcoin is not Mature enough, respectable or adjustable, to be worthy of our markets. I don’t agree”.
Apparently, bitcoin is not ripe enough, respectable enough or regulated enough to be worthy of our markets. I dissent: https://t.co/gH5zXaKtmj
— Hester Peirce (@HesterPeirce) July 26, 2018
Pierce believes that the bitcoin market is already quite Mature, and the decision of the SEC to refuse Winklevosses in creating the ETF holds the arrival of his institutional investors, which creates problems with their defense.
“I am concerned that the Commission’s approach undermines the protection of investors, hindering greater institutionalization of the market of bitcoins. Greater institutional presence would improve on many of the concerns of the Commission regarding the market of bitcoin, which underlie its failure,” said Pearce in a statement.
Recall that the SEC is also considering an application to open a bitcoin ETF from the Chicago Board of exchange CBOE and the investment company VanEck.