Jay Clayton Believes Spot Bitcoin ETF Approval is Inevitable
Jay Clayton, the former Chairman of the US Securities and Exchange Commission (SEC), is optimistic about the approval of a spot Bitcoin exchange-traded fund (ETF) by the regulator. The SEC recently delayed the applications of BlackRock and other finance giants seeking to launch such a product.
Key Points:
- Clayton believes progress could be made within the next 45 days.
- He sees a need to address the dichotomy between futures and cash products.
- Clayton considers the approval of a spot ETF to be inevitable.
- He suggests the SEC might be closer to saying “yes” in October.
- Clayton challenges the need for further delays or rejections.
According to Clayton, the SEC has been given time by the DC Circuit to reassess and come up with reasons to delay or reject the spot ETF. However, he does not see any valid reasons and believes the regulator may finally give the green light in October.
Hot Take:
Jay Clayton’s confidence in the eventual approval of a spot Bitcoin ETF by the SEC suggests a positive outlook for crypto investors. If the regulator does grant approval in the near future, it could open up new opportunities for investors to gain exposure to Bitcoin through a regulated and accessible investment vehicle.
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