Jay Clayton – former Chairman of the US Securities and Exchange Commission (SEC) – thinks the regulator will sooner or later approve the launch of a spot Bitcoin exchange-traded fund (ETF). The agency recently decided to delay the applications of BlackRock and numerous other finance giants who displayed ambitions to introduce such a product.

Clayton believes that “we could see progress in the following 45 days” (the period after which the watchdog is expected to announce its decision once again).

Spot Bitcoin ETF – ‘Inevitable’

The latest individual to give his two cents on the trendy spot BTC ETF topic is Jay Clayton (an American attorney who served as the Chairman of the SEC between 2017 and 2020). In his view, the “dichotomy between a futures product and cash product can’t go on forever,” meaning that the Commission will take the “inevitable” decision to eventually greenlight a spot ETF.

He failed to give a direct answer to the question of whether the Commission would have already approved such a product should he have been in charge. However, he believes the securities regulator might inch closer to saying “yes” in October rather than coming up with excuses to delay or reject the failings.

“The SEC has been given time from the DC Circuit to reassess and perhaps come up with reasons. I don’t see those; there might be some, but I don’t see those.”

Despite the numerous attempts from local companies, the US is among the countries where a spot BTC ETF has not seen the light of day yet. Many crypto proponents think the SEC might change its hostile stance thi