Spot bitcoin ETFs deserve approval, asserts former SEC chairman Jay Clayton
In a recent CNBC interview, former SEC Chair Jay Clayton discussed the changing regulatory environment surrounding bitcoin ETFs, stating that it would be challenging to resist approving them. Clayton explained that institutions are arguing that the distinctions between spot and futures products have diminished, making spot products more efficient and less burdensome for investors. A trend in embracing bitcoin Jay Clayton held the position of the SEC Chair from May 2017 to December 2020 and has since gathered a reputation for being cautious when it comes to cryptocurrencies. In an interview earlier today, Jay recognized the significant progress made by the cryptocurrency industry, specifically in terms of institutional investment. He acknowledged that prominent market players are now openly embracing bitcoin (BTC), calling it “fascinating.” Clayton said this development signals a rising trust in the cryptocurrency sector’s regulatory safeguards and trading potent...