With less than a day left to go on the deadline for the United States Securities and Exchange Commission (SEC) to either approve or deny the first Spot Bitcoin ETF in the country, various experts have come forward to share their thoughts on what the regulator might do. One of those who have chipped in their two cents is former SEC chairman Jay Clayton who believes that the Spot ETF is a matter of when and not if.
Spot Bitcoin ETF Is Inevitable
The former SEC chairman joined CNBC on its famous ‘Squawk Box’ show where he shared his expectations for the 13 pending Bitcoin Spot ETF applications with the Securities and Exchange Commission. Unlike some who have taken a more conservative stance, Clayton has chosen to go the route of absolute certainty.
According to the former chairman, the regulator has nothing left to deliberate on when it comes to these Spot ETF applications. So in this case, Clayton expects that the SEC would actually move to approve the ETF applications rather than decline them.
Clayton who has been in the crypto industry for at least two years now after leaving the regulator explains that things have changed from five years ago when the regulator had rejected Spot ETF applications when he was he office. He alludes to the rejection being due to the fact that “there was wash sales, there was laddering, there was all sorts of things that you wouldn’t want to make available to the general public.”
However, with the new applicants being major players in the finance industry at large and doing their due diligence, Clayton sees no reason why the regulator would have to deny a spot ETF. “I think approval’s inevitable, and I think there’s nothing left to decide,” Clayton stated.
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