Former SEC Chairman Jay Clayton: Spot Bitcoin ETF Approval Is Unstoppable

The issuer of the Bitcoin spot ETF submitted revised documents and announced the fee structure on January 8, while injecting seed funds. SEC Chairman Gary Gensler tweeted at this time to call out encryption-related risks, which was regarded as the last reminder before the issuance.

Former SEC Chairman Jay Clayton also stated in an exclusive interview with CNBC that approval of ETFs is imperative.

Jay Clayton: Approval of ETF is inevitable

Jay Clayton said that approval of Bitcoin ETF is inevitable and there are currently no unresolved concerns. He emphasized that the SEC was satisfied with the information provided by all parties. CNBC host Joe Kernen recently learned about the cost of investing in a Bitcoin ETF. This is information that needs to be known because it can give people a better understanding of the Bitcoin trading market. Bitcoin has improved a lot compared to five years ago. Risks such as wash trading and money laundering existed five years ago and are no longer open to the public. In short, Jay Clayton firmly believes that the approval of the Bitcoin ETF is reasonable and necessary.

He pointed out that the last reason is the improvement of the custody, creation and redemption mechanism. He may have been wrong in his prediction, but he still believes that the Bitcoin spot ETF is expected to be approved.

Last September, Jay Clayton held a positive view on the Bitcoin spot ETF. However, he believes that the dichotomy between futures products and spot products cannot continue forever.

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