On the latest episode of the Coinage podcast, guest SEC Commissioner Hester Pierce said she is open to reconsidering in-kind purchases for bitcoin ETFs.
(For those of you unfamiliar with the term “buy-in-kind,” it refers to the ability to take custody of the bitcoin you buy through an ETF. In essence, it turns that bitcoin into an actual IOU. thing.)
BREAKING: SEC Commissioner Hester Pierce previews new pro-crypto changes coming to SEC
ETF in-kind purchases and ETF issuers may initiate stacking "early"
Both ETFs now have more than $100 billion in AUM pic.twitter.com/g3jtbuBeWU
— Coinage (@coinage_media) December 20, 2024
This makes my heart happy because bitcoin was not designed to be trapped on the sidelines of an old system. It was built to free us from that system.
If Peirce can work with incoming SEC chairman Paul Atkins to ease the approval of in-kind purchases, bitcoin ETFs could serve as one of the biggest off-ramps for bitcoin, according to Bitwise founder Hong Kim. sheepAs opposed to simply existing as speculative vehicles.
Bitcoin was born to exist in the wild. He was not born to live in the Wall Street Zoo.
In-kind purchases allow Bitcoin, trapped inside the zoo, to return to its natural habitat.
This article is a Take it. Opinions expressed are solely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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