SEC Comm: A Bitcoin ETF Could Help Fairly Price Grayscale's GBTC

The SEC commissioner Hester Peirce believes that a Bitcoin ETF could help price more fairly Grayscale's Bitcoin Trust.

In a Bloomberg interview, the SEC commissioner, Hester Peirce, said the approval of a Bitcoin ETF by the regulator could help price Graysclale's GBTC more fairly.

"Recently I issued a second dissent, saying: to me, it appears that the current Commission is not interested in approving any exchange traded products that's available to a retail audience that has crypto underlying <...> which suggests to me that we have one standard for crypto products and then another standard for other types of products. And I don't think that's right."

"No, I think that's a great point. And I think it is. I mean, I don't want to think about any product and I haven't tracked that product the way that you have. But I think that in general, with the reason that products that trade on exchanges are attractive is because they do offer this really good price discovery process and they work really, really well. And so that's why people like to trade products on exchanges."

"If I were making an ETF ticker now, I guess it would have to be something related to toilet paper. So PP or something like that."

Joking aside, the lack of an approved Bitcoin ETF remains an obstacle to greater crypto adoption.