Jay Clayton, former chairman of the US Securities and Exchange Commission (SEC), believes that the approval of a spot Bitcoin ETF is “inevitable” despite delays on seven applications. A spot Bitcoin ETF is an exchange-traded fund that invests directly in Bitcoin, allowing investors to trade shares of the fund on stock exchanges. The SEC has been cautious about spot Bitcoin ETFs due to fears of market manipulation, but Clayton believes that large institutions with surveillance mechanisms can be relied upon to ensure the efficacy of the cash market. Last week, a federal court described the SEC’s decision to reject Grayscale’s request to convert its bitcoin trust (GBTC) into an ETF as “arbitrary and capricious”, leading JPMorgan analysts to believe that Grayscale’s victory will force the regulatory body to approve spot Bitcoin ETFs.

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Information	Details
Geography	North America
Countries	🇺🇸 🇨🇦
Sentiment	neutral
Relevance Score	8
People	CNBC, Jay Clayton, SEC, Nikolaos Panigirtzoglou, Grayscale
Companies	JPMorgan, US Securities and Exchange Commission, SEC, Bitcoin Trust (GBTC), Grayscale
Currencies	US Dollar, goBTC, Sector, Ethereum, Bitcoin
Securities	None