Former SEC Chairman Jay Clayton Interviewed: Approval of Bitcoin Spot ETF Inevitable

Bitcoin spot ETF issuers have been submitting revised documents, disclosing fee structures, and injecting seed funds on January 8th. Meanwhile, SEC Chairman Gary Gensler tweeted a warning about crypto-related risks, seen as a final caution before the issuance. Former SEC Chairman Jay Clayton also emphasized the necessity of approving ETFs in a CNBC interview.

Jay Clayton: Approval of ETF is Inevitable

Jay Clayton was asked about whether the SEC would approve a Bitcoin ETF. He believes that approval is inevitable and there are no remaining concerns to address. He stated:

The SEC is satisfied with the information disclosed by all parties. Joe Kernen, CNBC host, just learned about the costs involved in investing in a Bitcoin ETF, which is the information that needs to be shared with everyone to understand the Bitcoin trading market. It has become strong and efficient enough. Bitcoin is much better than it was five years ago when there were concerns about wash trading and money laundering. These risks were the main reasons why they were not open to the public before.

He mentioned the progress in custody, creation, and redemption mechanisms as the final reason. He admitted he could be wrong in his prediction, but he does believe that a Bitcoin spot ETF will be approved.

When Jay Clayton was interviewed by CNBC in September last year, he maintained a positive view on a Bitcoin spot ETF. However, his argument was slightly different as he mentioned that the dichotomy between futures and spot products cannot last forever.

Bitcoin spot ETF will definitely pass! JPMorgan, former SEC Chairman Jay Clayton both guarantee