Former SEC Chairman Jay Clayton: Spot Bitcoin ETF’s Approval is Inevitable
Former US Securities and Exchange Commission (SEC) Chairman Jay Clayton has stated in an interview with CNBC that the regulator’s approval of an ETF based on the spot price of the first cryptocurrency is inevitable.
He has explained that the contradictory stance between futures and cash products cannot go on indefinitely.
Nevertheless, Clayton refused to answer if he would take any action were he the current Chairman of the SEC, Gary Gensler.
He has rather highlighted that it is evident Bitcoin is not a security and both retail and institutional investors are interested in gaining access to it and some trustworthy providers wish to offer Bitcoin to the retail public.
Moreover, Anthony Pompliano, co-founder of Morgan Creek Digital, added in a CNBC commentary that the SEC will ultimately approve a spot Bitcoin ETF and it would have the potential to bring “billions of dollars” into the crypto industry.
