PANews reported on May 9 that according to Bloomberg, SEC Commissioner Hester Peirce said in a podcast that the decade-long approval process for Bitcoin spot ETFs was "seriously mismanaged" and criticized the regulators for giving "weak" reasons for approval in 2024. She pointed out that the SEC is still facing lawsuits and multiple considerations, and called on the market to be patient with other crypto ETFs and regulatory progress. Peirce emphasized that the SEC's approval of a product does not mean it is a "good investment" and investors need to judge for themselves. There are currently about 80 crypto-related ETF applications under review.