A bold statement has emerged from a former U.S. Securities and Exchange Commission (SEC) Chair Jay Clayton, suggesting that the approval of a Spot Bitcoin Exchange-Traded Fund (ETF) is inevitable, stating that "there's nothing left to decide," in an interview with CNBC today.
The former SEC Chair's confident proclamation hints at an imminent breakthrough in the regulatory landscape for Bitcoin-related financial products. This assertion aligns with the growing sentiment within the Bitcoin community, eagerly anticipating the approval of a Spot Bitcoin ETF.
"I think approval is inevitable, there's nothing left to decide,"& Clayton said. "Is the Bitcoin underlying trading market something that is robust enough, efficacious enough, where you can rely on it? It is much better today than it was five years ago."
These statements imply that key concerns or considerations previously hindering the approval process have been sufficiently addressed, paving the way for an inevitable green light from the SEC.
This bold declaration underscores the evolving sentiment within regulatory circles, reflecting a growing acceptance and understanding of Bitcoin. The potential approval of a spot Bitcoin ETF is anticipated to mark a watershed moment in the financial sphere, enabling broader access for traditional investors seeking exposure to BTC through regulated investment vehicles.
"The last thing, and I think this is missed, is the technology to actually provide the product," the former SEC Chair continued. "The custodying, the create, the redeem. This is a big step, not just for Bitcoin but for finance generally."
The SEC is expected to approve spot Bitcoin ETFs by the end of day Wednesday. Bloomberg reported yesterday that if approved, the ETFs could be listed and starting to trade as soon as the next business day.
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