The Commissioner of SEC Hester M. Peirce wants ETF approved and actually disagrees with Twin's ETF dissaproval.....AN INTERESTING READ

This is interesting....The Commissioner of SEC Hester M. Peirce wants ETF approved and actually disagrees with Twin's ETF dissaproval. Peirce released a statement on the SEC’s website stating "she’d “respectfully dissent (disagree)” from the Commission’s order disapproving the said ETF.

"The Commission’s interpretation and application of the statutory standard sends a strong signal that innovation is unwelcome in our markets, a signal that may have effects far beyond the fate of bitcoin ETFs.

The Proposed Rule Change Satisfies the Requirements of Exchange Act Section 6(b).
The Disapproval Order Inhibits Institutionalization.
The Disapproval Order Dampens Innovation.
Conclusion - I reject the role of gatekeeper of innovation—a role very different from (and, indeed, inconsistent with) our mission of protecting investors, fostering capital formation, and facilitating fair, orderly, and efficient markets.