Jay Clayton, former Chairman of the US Securities and Exchange Commission (SEC), believes that the regulator will soon approve the launch of a spot Bitcoin exchange-traded fund (ETF). The SEC recently decided to delay the applications of BlackRock and other finance giants who wanted to introduce such a product. Clayton believes that the decision could be made within the next 45 days.Clayton believes that the “dichotomy between a futures product and cash product can’t go on forever” and that the Commission will eventually greenlight a spot ETF. He also noted that the strong demand for Bitcoin from both retail and institutional investors is clear, and that the SEC agrees that Bitcoin is not a security.Current SEC Chair Gary Gensler has also stated that Bitcoin is the only cryptocurrency he could classify as a commodity. The SEC has been given time to reassess the applications and could announce its decision in October.

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

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	8
People	Jay Clayton, Gary Gensler
Companies	WisdomTree, Fidelity, VanEck, BlackRock, Invesco
Currencies	Ethereum, Bitcoin
Securities	None