Chair

Bitcoin

Spot

<p class="is-style-lead">Former Securities and Exchange Commission (SEC) Chairman Jay Clayton has expressed his belief that the approval of a spot Bitcoin Exchange-Traded Fund (ETF) is “inevitable.”</p> 
<p>Clayton stated that there is a big likelihood for a spot Bitcoin ETF approval to happen in a recent CNBC <a href="https://www.cnbc.com/video/2023/09/01/jay-clayton-its-clear-bitcoin-is-not-a-security-and-is-something-retail-investors-want-access-to.html" target="_blank" rel="noopener noreferrer nofollow">interview</a>, despite the SEC’s delay in approving Bitcoin ETF applications.</p> 
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   <p lang="en" dir="ltr">An approval of a Spot <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF is inevitable. – Jay Clayton, former SEC Chair <a href="https://t.co/hcAIxJBiKb" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/hcAIxJBiKb</a></p>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1697613408453951502?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 1, 2023</a> 
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<p>So far, numerous companies have submitted applications for ETFs centered on spot Bitcoin, among them BlackRock, Ark Invest, Bitwise, WisdomTree, VanEck, and Invesco. The SEC chose Friday to extend the evaluation period by an additional 45 days to conduct a comprehensive assessment of the proposed rule modifications.&nbsp;</p> 
<p>This extension affords the regulatory entity until October 2023 to make a determination, whether it be approval, rejection, or an announcement of further deliberation.</p> 
<p>Clayton gave his positive sentiments just days after a court <a href="https://www.mondaq.com/unitedstates/fin-tech/1361236/appeals-court-reverses-the-secs-rejection-of-grayscales-spot-bitcoin-etf-proposal" data-type="link" data-id="https://www.mondaq.com/unitedstates/fin-tech/1361236/appeals-court-reverses-the-secs-rejection-of-grayscales-spot-bitcoin-etf-proposal" target="_blank" rel="noopener noreferrer nofollow">ruling</a> labeled the SEC’s rejection of Grayscale’s ETF application as ‘arbitrary and capricious.’ Despite the misalignment between the SEC and the courts, Clayton remains optimistic about the <a href="https://crypto.news/bitcoin-etf-sec-annoucement/" target="_blank" rel="noopener noreferrer nofollow">future</a> of Bitcoin ETFs. He emphasized two key factors that signal the inevitability of a Bitcoin ETF approval — the demand from institutional investors and the need for access to Bitcoin.</p> 
<p> You might also like: <a href="https://crypto.news/sec-chairman-jay-clayton-bitcoin-etf-approval/" rel="noopener noreferrer nofollow"> Former SEC Chairman Jay Clayton Now Fighting for Bitcoin ETF Approval </a> </p> 
<p>Clayton <a href="https://crypto.news/grayscales-bitcoin-etf-optimism-bolsters-crypto-market-sentiment/" target="_blank" rel="noopener noreferrer nofollow">explained</a> that institutional investors clearly desire access to Bitcoin via an ETF, highlighting the growing acceptance of cryptocurrencies in the financial sector. He also noted that approving a spot Bitcoin ETF would give retail traders easier access to the cryptocurrency market.</p> 
<p>The former SEC chair strongly held his position, saying the regulatory body will likely <a href="https://crypto.news/us-sec-postpones-ruling-on-6-spot-bitcoin-etf-applications/" target="_blank" rel="noopener noreferrer nofollow">approve</a> a Bitcoin ETF. However, he did not provide a specific timeline for when this might occur.</p> 
<h2 class="wp-block-heading" id="retail-traders-to-benefit-from-easier-access-to-bitcoin">Retail traders to benefit from easier access to Bitcoin</h2> 
<p>Clayton’s comments offer a glimmer of hope for those in the crypto industry who have been patiently waiting for the green light from regulators. The approval of a Bitcoin ETF in the U.S. would mark a significant <a href="https://www.barrons.com/articles/grayscale-bitcoin-etf-sec-crypto-coinbase-14356fcd#:~:text=A%20spot%20Bitcoin%20ETF%20approval,the%20earnings%20might%20be%20slight." data-type="link" data-id="https://www.barrons.com/articles/grayscale-bitcoin-etf-sec-crypto-coinbase-14356fcd#:~:text=A%20spot%20Bitcoin%20ETF%20approval,the%20earnings%20might%20be%20slight." target="_blank" rel="noopener noreferrer nofollow">milestone</a> in the mainstream acceptance of cryptocurrencies.</p> 
<p>As the financial world evolves, approving a spot Bitcoin ETF seems more a question of ‘when’ rather than ‘if.’ Clayton’s assertion echoes this sentiment that such an approval is indeed “inevitable.”</p> 
<p> Read more: <a href="https://crypto.news/sec-chairman-jay-clayton-critiques-icos-us-securities-regulation-institute/" rel="noopener noreferrer nofollow"> SEC Chairman Jay Clayton Critiques ICOs at the US Securities Regulation Institute </a> </p>

Former SEC chair Jay Clayton predicts inevitable approval of Bitcoin ETF

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