Former SEC Chair Jay Clayton believes that the approval of a Bitcoin ETF is inevitable, citing the demand from retail investors and trusted providers. The SEC has expressed concerns about market manipulation and investor protection, but investors are eagerly awaiting a breakthrough. Clayton’s statement that Bitcoin is not a security is significant, as securities fall under the SEC’s jurisdiction. He highlights the unique nature of Bitcoin as a decentralized currency and the growing demand from retail investors for regulated investment products. Despite delays, Clayton asserts that the approval of a Bitcoin ETF is unavoidable and could drive further adoption and acceptance of cryptocurrencies. Meanwhile, the SEC has announced a delay in the review process for WisdomTree’s application for a Bitcoin spot ETF, and industry experts speculate that the approval timeline may extend beyond October. The SEC’s decision will have far-reaching implications for the crypto ecosystem and investor sentiment.
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