A bold statement from former US Securities and Exchange Commission (SEC) Chairman Jay Clayton suggests approval of a Bitcoin spot trading fund (ETF) is inevitable, stating that “there is nothing left to decide,” in an interview with CNBC today. .
The former SEC chief's confident announcement signals an imminent breakthrough in the regulatory landscape for Bitcoin-related financial products. This confirmation is in line with growing sentiment within the Bitcoin community, who are eagerly anticipating the approval of the Spot Bitcoin ETF.
“I think approval is inevitable, there is nothing left to decide,” Clayton said. “Is the underlying trading market for Bitcoin strong enough, efficient enough, that you can rely on it? It's much better today than it was five years ago.”
These statements imply that key concerns or considerations that previously hampered the approval process have been adequately addressed, paving the way for an inevitable green light from the SEC.
This bold announcement underscores the evolving sentiment within regulatory circles, reflecting the growing acceptance and understanding of Bitcoin. The potential approval of a spot Bitcoin ETF is expected to represent a watershed moment in the financial space, offering broader access to traditional investors seeking exposure to BTC through regulated investment vehicles.
“The final thing, and I think has been missed, is the technology needed to actually provide the product,” the former SEC chief continued. “Custody, creation, redemption. This is a big step, not just for Bitcoin but for finance in general.”
The Securities and Exchange Commission is expected to approve bitcoin ETFs by the end of Wednesday. Bloomberg reported yesterday that if approved, the ETFs could be listed and begin trading as soon as the next business day.
