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Market Is Ready for a Bitcoin ETP

Peirce has pushed back against an emerging government narrative that cryptocurrency is a risky road to terrorist financing.

U.S. capital markets are ready for a product traded on the bitcoin exchange, U.S. Hester Peirce, the Securities and Exchange Commissioner, said Thursday on CoinDesk TV. 

The regulator, playfully known as “crypto mom” said that people are now eager to trade a bitcoin ETP, “and so if we don’t give them the natural way, which I think would be an ETP, they are going to look for other (less optimal) ways to do it.”

 In her interview, Peirce also pushed back against an emerging government narrative that cryptocurrency is a risky rail for terrorist financing. She cast doubt on the size of the alleged issue and maintained that there was no way to outright ban bitcoin.

 Pierce said she looks forward to partnering with SEC Chairman candidate Gary Gensler once the Senate has approved the former MIT digital currency professor.

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Sourcecoindesk

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