TL;DR
Former SEC Chair Jay Clayton believes a spot Bitcoin ETF approval by the SEC is “inevitable,” noting high demand from both retail and institutional investors.
Bitcoin price spiked on a false alarm of SEC approval; real approval could drive substantial institutional investment similar to the impact of gold ETFs on the gold market.
The SEC’s hesitation is due to concerns about cryptocurrency market volatility and associated investment risks.
Jay Clayton, who served as SEC chair from 2017 to 2020, said recently in September that the “dichotomy between a futures product and cash product can’t go on forever.”
Fmr. SEC Chair Clayton: Bitcoin ETF ‘Inevitable’
As a result, he believes a spot Bitcoin ETF approval by the Securities and Exchange Commission is “inevitable.”
Earlier this year, in July, he also said approving a Bitcoin ETF would be “hard to resist.” He says that’s because institutional players are chomping at the bit to get access to Bitcoin investme
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