As anticipation builds around major asset managers’ potential approval of Bitcoin ETF applications, former US Securities and Exchange Commission (SEC) chair Jay Clayton has added his voice to the discussion.
Clayton, who served as SEC chair from 2017 to 2020 during the Trump administration, expressed his belief in the inevitable approval of Bitcoin ETFs in a recent interview with CNBC.
Clayton Highlights Key Factors In Bitcoin ETF Approval
According to Clayton, approving Bitcoin ETFs is not a matter of if but when. He emphasized the robustness and efficacy of the Bitcoin trading market, stating that it has significantly improved over the past five years.
Clayton also highlighted the importance of the technology supporting these ETFs, particularly the custody, creation, and redemption processes.
Clayton views the ability to tokenize and digitize underlying assets as a major step forward, with implications beyond the crypto space. Clayton believes that this development has the potential to bring about significant changes in the broader financial industry.
Clayton’s recent comments align with his previous statements, demonstrating a consistent stance favoring Bitcoin ETF approval.
During his tenure as SEC chair, Clayton expressed skepticism about the BTC market but acknowledged the emergence of reputable institutions in the crypto industry as a game-changing development.
Clayton emphasized the efficiency of a spot Bitcoin ETF for investors. He noted that approving a Bitcoin Spot ETF would become difficult to resist if institutions can demonstrate their effectiveness compared to the futures market.
Clayton also recognized the significance of institutional players entering the crypto industry, as their involvement lends credibility and addresses some of the SEC’s concerns regarding market manipulation.
Moreover, Clayton highlighted the increasing demand from retail investors to gain regulated exposure to Bitcoin through investment products. He also noted that reputable financial industry providers are eager to offer Bitcoin ETFs to the public.
These factors underscore the market’s readiness for regulated investment vehicles that can provide broader access to cryptocurrencies while maintaining investor protections.
Trading Expected To Commence This Week
CNBC has reported that trading of Bitcoin ETFs could commence within days. The news aligns with former SEC Chair Jay Clayton’s optimistic outlook on…
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