Former SEC Chair Jay Clayton: Bitcoin ETF Approval Could Be Hard to Resist
Former SEC Chairman Jay Clayton believes that a spot Bitcoin exchange-traded fund (ETF) could be approved if it demonstrates similar efficacy to the futures market. Clayton, who was initially skeptical of Bitcoin trading, finds it remarkable that major players in traditional finance are interested in spot ETF applications. BlackRock, the world's largest asset manager, recently applied for a spot Bitcoin ETF, leading to increased institutional investment in the space. The SEC has been hesitant to approve a spot Bitcoin ETF due to concerns about price manipulation and the need for a surveillance-sharing agreement. However, if applicants can address these concerns, it would be difficult for regulators to resist approving a Bitcoin ETF.
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