Former SEC Chair Jay Clayton said that applicants for a spot bitcoin ETF have a strong chance at approval if they can prove that it’s a more efficient and effective way for investors to buy into the digital asset.
But the former SEC chair demurred as to when, or even if, an exchange-traded fund for the original digital asset might be approved.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Former U.S.
But Clayton, who led the SEC during several rejections of previous bitcoin spot ETF applications and now works in private practice as a senior policy advisor at the international law firm Sullivan & Cromwell, demurred on making a prediction as to when a bitcoin spot ETF might finally happen. Clayton explained further the SEC’s thinking, comparing how it handled approval of futures ETFs in the past.
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