Former SEC Chairman Jay Clayton believes spot Bitcoin ETF approval is inevitable
Former Securities and Exchange Commission (SEC) Chairman Jay Clayton has expressed his belief that the approval of a spot Bitcoin Exchange-Traded Fund (ETF) is “inevitable.” Despite the SEC’s delay in approving Bitcoin ETF applications, Clayton stated that there is a big likelihood for a spot Bitcoin ETF approval to happen in a recent CNBC interview.
Main points:
- Multiple companies have submitted applications for spot Bitcoin ETFs.
- The SEC extended the evaluation period by 45 days.
- Court ruling labeled the SEC’s rejection of Grayscale’s ETF application as ‘arbitrary and capricious.’
- Institutional investors’ demand for access to Bitcoin and the need for easier access for retail traders signal the inevitability of a Bitcoin ETF approval.
- Clayton did not provide a specific timeline for approval.
Closing paragraph:
Clayton’s positive sentiments and emphasis on the demand from institutional investors and the need for easier access to Bitcoin highlight the inevitability of a Bitcoin ETF approval. Such approval would be a significant milestone in the mainstream acceptance of cryptocurrencies, and according to Clayton, it’s more a question of ‘when’ rather than ‘if’ it will happen.
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