Former SEC Chairman: Approval of Spot Bitcoin ETF Is Inevitable "There’s nothing more to decide"
Former U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton made a bold statement, suggesting that approval of a spot Bitcoin exchange-traded fund (ETF) is inevitable, saying, “There is no further decision to be made.” Interview with CNBC today.
The former SEC Chairman’s confident declaration suggests an imminent breakthrough in the regulatory environment for Bitcoin-related financial products. This claim is consistent with a growing sentiment within the Bitcoin community eagerly anticipating the approval of a Spot Bitcoin ETF.
“I think approval is inevitable, there’s nothing to decide,” Clayton said. “Is the Bitcoin underlying trading market sufficiently robust, efficient and reliable? It is much better today than it was five years ago.”
These statements mean that major concerns or considerations that previously impeded the approval process have been sufficiently addressed, paving the way for the SEC’s inevitable approval.
This bold declaration highlights the evolving sentiment within regulators, reflecting the growing acceptance and understanding of Bitcoin. The potential approval of a spot Bitcoin ETF is expected to be a watershed moment in the financial sector, making it more broadly accessible to existing investors seeking exposure to BTC through a regulated investment vehicle.
“The last thing that’s missing is the technology that actually delivers the product,” the former SEC chairman continued. “Storage, creation, redemption. This is a huge step forward, not only for Bitcoin but for finance in general.”
The SEC is expected to approve a spot Bitcoin ETF by the end of Wednesday. Bloomberg reported yesterday that if approved, the ETF could be listed and begin trading the next business day.
