Former U.S. Securities and Exchange Commission Chairman (SEC) Jay Clayton has commented on a possible spot Bitcoin (BTC) exchange-traded fund (ETF) approval.
World’s largest asset managers BlackRock And fidelity institutions such as spot Bitcoin ETF While the application continues to create the agenda in the cryptocurrency community, a comment on the subject came from former SEC Chairman Jay Clayton.
Speaking to CNBC recently, Clayton said that spot Bitcoin ETF filings if it can be proven to offer an easier and more efficient alternative for investors He said they have a good chance of getting approved. Former executive may be eligible for regulatory agency’s spot ETF applications if appropriate conditions are met. you can’t resist he added:
It will be hard to resist approval for a spot Bitcoin ETF if they are right that the spot market has similar activity to the futures market.
Clayton, who came to the agenda with rejections against ETF requests during his presidency, hesitated to comment on when and under what conditions the spot Bitcoin ETF approval would come. The SEC’s prioritization before granting such approval will protect the safety of investors He elaborated with the following words:
The SEC has so far approved applications for ETFs on the futures market because oversight on that side was sufficient to protect investors. However, for an ETF to be traded in the spot markets, there is an unsolved hesitation.
The SEC rejected the first version of applications from major companies, including BlackRock and Fidelity, as unsatisfactory. Applications in a short time revised Companies that do so will appear before the SEC again. decisive your demeanor protected.