The Former SEC Chair Jay Clayton is Optimistic about the Approval of a Spot Bitcoin ETF
Jay Clayton, the former chair of the SEC, believes that the recent delay in approving Bitcoin ETF applications aligns with the time set for action in the DC Circuit. He predicts that a spot Bitcoin ETF could soon be approved.
- The SEC has delayed its decision on seven Bitcoin ETF contenders.
- Clayton believes that the time extension for the decision aligns with the time for action in the DC Circuit.
- He points out that the SEC struggles with distinguishing between securities offerings and trades and their non-security counterparts.
- Clayton emphasizes that Bitcoin is not a security and that there is high demand for a Bitcoin ETF among retail and institutional investors.
- Legal expert Bill Morgan suggests that the SEC may only approve Bitcoin and Ethereum, while clashing with other cryptocurrencies like Ripple and Coinbase.
The recent court ruling that leaves the SEC with limited reasons to resist approval has increased confidence in the possibility of spot Bitcoin ETFs launching in the US this year.
Hot Take
The former SEC chair’s optimism regarding the approval of a spot Bitcoin ETF is a positive sign for the crypto industry. If approved, a Bitcoin ETF could provide easier access to Bitcoin for both retail and institutional investors. However, the SEC’s challenges in distinguishing between securities and non-securities may still pose a hurdle. Despite this, the recent court ruling and the increasing demand for Bitcoin ETFs suggest that approval is becoming more likely.
By
By
By
