Former SEC Chairman Jay Clayton Believes Bitcoin ETF Approval is Inevitable
Former U.S. Securities and Exchange Commission (SEC) chairman Jay Clayton is optimistic about the future approval of a spot Bitcoin (BTC) exchange-traded fund (ETF). During a recent CNBC interview, Clayton expressed his belief that the SEC will ultimately greenlight a Bitcoin ETF.
According to Clayton, there are no major decisions left to make regarding a Bitcoin ETF. He commended the SEC for its progress in understanding the disclosure requirements and the underlying Bitcoin market. Clayton noted that the Bitcoin market has significantly improved over the past five years, making it more reliable and secure.
Clayton also emphasized the importance of technology in providing the necessary infrastructure for a Bitcoin ETF, including custodying, creation, and redemption processes. He believes that approving a Bitcoin ETF would be a significant step not just for Bitcoin but also for the finance industry as a whole.
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Hot Take: Former SEC Chairman’s Optimism on Bitcoin ETF Approval
Jay Clayton, former SEC Chairman, expressed his confidence in the eventual approval of a spot Bitcoin ETF by the SEC. According to him, there are no major decisions left to be made as the disclosure requirements and reliability of the underlying Bitcoin market have been adequately addressed. Additionally, he highlighted the significance of technology in facilitating key aspects of an ETF. This positive outlook from an influential figure in financial regulation suggests that a Bitcoin ETF may soon become a reality.
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