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<p><strong>According to former Securities and Exchange Commission (SEC) chair Jay Clayton, the regulatory agency will not approve a spot bitcoin exchange-traded fund (ETF) anytime soon.</strong></p> 
<p>Clayton’s statement comes as the SEC has once again delayed making a determination on the spot bitcoin ETF proposal submitted by ARK Invest. The agency was originally facing a deadline of August 13th but has extended the timeline to allow for more public commentary.</p> 
<p>This marks the latest in a long line of stalls and rejections by the SEC regarding spot bitcoin ETF applications. Over the last several years, the agency has consistently pushed back decisions and eventually denied over a dozen proposals from investment firms hoping to offer the product.</p> 
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<p>The SEC has raised numerous concerns around potential approval of a spot bitcoin ETF, including worries over transparency and manipulation in bitcoin markets as well as apprehensions around bitcoin being fundamentally different from other assets.</p> 
<p>While some analysts think the SEC will have to eventually approve a spot bitcoin ETF given bitcoin’s momentum, Clayton’s recent comments suggest the agency remains unlikely to greenlight such products soon. The wait for an SEC-sanctioned spot bitcoin ETF that allows ordinary investors easy exposure to bitcoin looks set to continue for the foreseeable future.</p> 
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/former-sec-chief-claims-agency-will-not-greenlight-spot-bitcoin-etf/">Former SEC Chief Claims Agency Will Not Greenlight Spot Bitcoin ETF</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Former SEC Chief Claims Agency Will Not Greenlight Spot Bitcoin ETF

CaptainAltcoin

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