In a recent episode of the Coinage podcast, visiting SEC Commissioner Hester Peirce said she is open to reconsidering the redemption of bitcoin ETFs.
(For those unfamiliar with the term “in-kind redemption,” it refers to the ability to withdraw the bitcoin you purchased through an ETF into your own possession. Essentially, it turns a bitcoin IOU into a real. thing.)
BREAKING: SEC Commissioner Hester Peirce previews new pro-crypto reforms coming to SEC
ETF redemptions of sorts and the ability of ETF issuers to begin accounting may be done "it’s early"
Both ETFs now have over $100B in AUM pic.twitter.com/g3jtbuBeWU
– Coinage (@coinage_media) December 20, 2024
This makes my heart happy, as bitcoin was not created to exist locked within the systems of the old system. It was designed to free us from that system.
If Peirce can work with the incoming SEC Chairman, Paul Atkins, to facilitate the approval of redemptions of the kind that bitcoin ETFs can serve as other major on-ramps to Bitcoin, as Bitwise founder Hong Kim said , as opposed to simply existing as speculative vehicles.
Bitcoin was born to exist in the wild. It was not born to exist in the Wall Street zoo.
A rescue of some sort would allow bitcoin currently trapped inside the zoo the ability to return to its natural habitat.
This article is a Take it. The views expressed are entirely those of the author and do not reflect those of BTC Inc or Bitcoin Magazine.