Introduction
The approval of a Bitcoin exchange-traded fund (ETF) in the United States has been a hot topic for years. The Securities and Exchange Commission (SEC) has been delaying its decision on multiple proposals, causing frustration among crypto enthusiasts. However, former SEC Chair Jay Clayton believes that the approval of a Bitcoin ETF is inevitable, despite the delays.
Delayed Decision-Making
The SEC has delayed its decision on multiple Bitcoin ETF proposals, citing concerns over market manipulation and investor protection. This has led to frustration among crypto investors who believe that a Bitcoin ETF would legitimize the asset class and attract institutional investors.
Inevitable Approval
Despite the delays, former SEC Chair Jay Clayton believes that the approval of a Bitcoin ETF is inevitable. In an interview with CNBC, Clayton stated that “eventually, a Bitcoin ETF will be approved.” He cited the growing demand for crypto investments and the need for regulatory clarity as reasons for the eventual approval.
SEC’s Concerns
While Clayton believes that a Bitcoin ETF will eventually be approved, the SEC has not yet addressed its concerns over market manipulation and investor protection. The agency has rejected multiple proposals in the past, and it remains to be seen whether any of the current proposals will meet the SEC’s requirements.
Related:Bitcoin Price: Grayscale Gains Wiped Out with SEC Spot ETF Delays
Conclusion
The approval of a Bitcoin ETF in the United States has been a long-awaited event for crypto enthusiasts. While the SEC has delayed its decision on multiple proposals, former SEC Chair Jay Clayton believes that the approval is inevitable. However, the SEC’s concerns over market manipulation and investor protection must be addressed before any proposal can be approved.
