Former SEC Chairman Jay Clayton has recently stated that applicants for a spot Bitcoin ETF have a good chance of being approved if they can show that it is a more efficient and effective way for investors to purchase a digital asset.
He has warned, however, that the process of approval will take time, due to the need for careful regulation.
He has also pointed out the advancements in institutional investment in the cryptocurrency sector, as well as the SEC’s past rejections of spot Bitcoin ETFs, which were due to a lack of transparency and insufficient protection for investors.
