The Securities and Exchange Commission (SEC) has today rejected Wilshire Phoenix's Bitcoin ETF application. SEC Commissioner Hester Peirce, known as the "crypto mom", has publicly opposed the move. "The SEC again rejects the proposed rule change. The order is the latest in a series of rejection orders issued by the SEC for bitcoin-related products. This series of rejection orders led me to conclusions," Peirce said in a recent statement of opposition. That is, the SEC is unwilling to approve any products that can provide access to the bitcoin market, and there is no (application) file that can meet the SEC's insistent and changing standards for trial use of bitcoin related products, and only for bitcoin related products "Peirce concludes that the SEC's attitude towards these Bitcoin ETFs is frustrating because it has shown stubborn rigidity in the face of innovation.