Jay Clayton, the former US Securities and Exchange Commission (SEC) Chair, has expressed his confidence that the approval of a Bitcoin (BTC) spot Exchange-Traded Fund (ETF) is inevitable. In a recent interview with CNBC, Clayton highlighted the demand from retail investors and the willingness of trusted providers to offer this investment product to the public. He also stated that “it is clear that Bitcoin is not a security”, which is a crucial distinction as securities fall under the SEC’s regulatory jurisdiction.Several major asset managers have submitted applications for Bitcoin spot ETFs, but the SEC has yet to greenlight any of these proposals. While the SEC has expressed concerns regarding market manipulation, investor protection, and custody of digital assets, the industry and investors eagerly await a breakthrough.James Seyffart, an ETF specialist at Bloomberg, has speculated that the review process could be extended by an additional 45 days, potentially pushing the approval timeline beyond October. He further expressed his view that there is currently a “zero percent chance of approval before October”, given the prevailing circumstances.The SEC’s decision will have far-reaching implications for the broader crypto ecosystem and investor sentiment. While the exact timeline for approval remains uncertain, industry experts and market participants eagerly anticipate further updates from the SEC as they navigate the complexities of the regulatory landscape.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	James Seyffart, Jay Clayton
Companies	Ark Invest, CNBC, SEC, WisdomTree, BlackRock
Currencies	Ethereum, Bitcoin
Securities	None