The Approval of a Spot Bitcoin ETF is Inevitable: Jay Clayton

Jay Clayton, the former chairman of the US Securities and Exchange Commission (SEC), has predicted that a spot Bitcoin exchange-traded fund (ETF) will eventually be approved in the United States.

In the Grayscale vs. SEC case, a court found that the SEC could not deny spot Bitcoin ETFs due to fraud and market manipulation risks in the spot Bitcoin market because the spot market and the CME Bitcoin futures market are tightly linked.

If the SEC wishes to reject Grayscale’s proposal again, it will have to do so on other grounds.

The SEC recently announced that it will take at least until mid-October to decide on spot Bitcoin ETFs proposed by various firms, such as BlackRock, Fidelity and Invesco. According to Clayton, the announcement could be made then, although the SEC may take more time.