{"id":81550,"date":"2023-07-11T10:13:01","date_gmt":"2023-07-11T07:13:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81550"},"modified":"2025-09-11T23:34:39","modified_gmt":"2025-09-11T20:34:39","slug":"ex-sec-chief-sees-chances-for-bitcoin-etf-approval","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ex-sec-chief-sees-chances-for-bitcoin-etf-approval\/","title":{"rendered":"Ex-SEC chief sees chances for Bitcoin ETF approval"},"content":{"rendered":"<p>Applicants for a spot Bitcoin ETF have a good chance of approval if they can prove that it is a more efficient and effective way for investors to buy the digital asset, the former <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> chairman Jay Clayton said.<\/p>\n<p><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/anZ64j1YcU4\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abIf [the companies] are right that the spot equity market has similar efficiency to the futures market, it will be hard to resist approving the instrument\u00bb, \u2014 the official added.<\/p>\n<\/blockquote>\n<p> Clayton warned that the process will not be quick, noting the need for thorough regulation. However, he acknowledged &#8220;impressive successes&#8221; achieved by the crypto industry, particularly in the context of institutional investment.<\/p>\n<p>The former chairman led the agency from 2017 to 2020. During that period the Commission rejected several requests for a spot Bitcoin ETF and <a href=\"https:\/\/u1f987.com\/en\/news\/sec-files-suit-against-ripple\">filed a lawsuit against Ripple Labs<\/a>.<\/p>\n<p>According to Clayton, in the past the regulator did not approve an ETF based on the first cryptocurrency due to a lack of transparency and concerns about investor protection.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abWhen the SEC approved a futures-based ETF, officials said: &#8216;Let\\&#8217;s look at the futures market: we see oversight, we see investor protection that is sufficient.&#8217; But they did not see the same in the spot market\u00bb, \u2014 Clayton explained.<\/p>\n<\/blockquote>\n<p>On June 15, BlackRock <a href=\"https:\/\/u1f987.com\/en\/news\/blackrock-files-for-bitcoin-etf-launch\">filed<\/a> with the SEC an application for a spot Bitcoin ETF. Following the financial giant, similar filings came from <a href=\"https:\/\/u1f987.com\/en\/news\/valkyrie-seeks-to-register-a-spot-bitcoin-etf\">Valkyrie<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/fidelity-investments-files-for-spot-bitcoin-etf\">Fidelity Investments<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/wisdomtree-and-invesco-file-applications-to-launch-bitcoin-etfs\">WisdomTree and Invesco<\/a>. In the queue <a href=\"https:\/\/u1f987.com\/en\/news\/sec-to-review-ark-invests-spot-bitcoin-etf-filing-ahead-of-blackrock\">ARK Invest and 21Shares have priority<\/a> based on the time of filing.<\/p>\n<p>On June 30, WSJ sources said that the Commission <a href=\"https:\/\/u1f987.com\/en\/news\/wsj-reports-sec-reaction-to-blackrock-and-fidelity-spot-bitcoin-etf-filings\">rejected the filings<\/a> because they did not contain sufficient information regarding the so-called <a href=\"https:\/\/u1f987.com\/en\/news\/cboe-mirrors-blackrock-elements-in-ark-invest-bitcoin-etf-filing\">joint oversight agreement<\/a> or details of this mechanism. The latter became a key addition to BlackRock&#8217;s filing.<\/p>\n<p>Subsequently, the aforementioned companies promptly sent the agency <a href=\"https:\/\/u1f987.com\/en\/news\/fidelity-and-others-amend-filings-for-bitcoin-etf-after-sec-reaction\">updated proposals<\/a>.<\/p>\n<p>As Bernstein analysts note, the regulator will not be able to maintain its negative stance toward spot ETFs based on the first cryptocurrency for long.<\/p>\n<p>Circle CEO Jeremy Allaire <a href=\"https:\/\/u1f987.com\/en\/news\/ceo-circle-regulators-have-made-progress-on-the-bitcoin-etf\">predicted<\/a> that the recent wave of applications to launch Bitcoin-based exchange-traded funds would lead to SEC approval.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Applicants for a spot Bitcoin ETF have a good chance of approval if they can prove that it is a more efficient and effective way for investors to buy the digital asset, the former SEC chairman Jay Clayton said.<\/p>\n","protected":false},"author":1,"featured_media":81551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[128,1211],"class_list":["post-81550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-sec","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=81550"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81550\/revisions"}],"predecessor-version":[{"id":81552,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81550\/revisions\/81552"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/81551"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=81550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=81550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=81550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}