SEC Commissioner Peirce: The approval process for spot Bitcoin ETFs has been severely mishandled

According to a report by Golden Finance, SEC Commissioner Hester Peirce stated in a podcast that the decade long approval process for spot Bitcoin ETFs has been "severely mishandled" and criticized the "weak" reasons given by regulators when approving in 2024. She pointed out that the SEC is still facing lawsuits and multiple considerations, and called on the market to be patient with other cryptocurrency ETFs and regulatory developments. Peirce emphasized that SEC approval of a product does not necessarily mean it is a "good investment", and investors need to make their own judgments. There are currently about 80 cryptocurrency related ETF applications under review.