{"id":83910,"date":"2023-09-02T14:16:39","date_gmt":"2023-09-02T11:16:39","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83910"},"modified":"2025-09-12T14:05:26","modified_gmt":"2025-09-12T11:05:26","slug":"ex-sec-chief-says-spot-bitcoin-etf-approval-is-inevitable","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ex-sec-chief-says-spot-bitcoin-etf-approval-is-inevitable\/","title":{"rendered":"Ex-SEC chief says spot Bitcoin ETF approval is inevitable."},"content":{"rendered":"<p>The former chair of the U.S. Securities and Exchange Commission (SEC), Jay Clayton, told CNBC that the regulator will inevitably approve <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a> based on the spot price of the first cryptocurrency.<\/p>\n<figure class=\\\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\\\">\n<div class=\\\"wp-block-embed__wrapper\\\">\n<iframe loading=\\\"lazy\\\" title=\\\"Jay Clayton: It's clear bitcoin is not a security and is something retail investors want access to\\\" width=\\\"500\\\" height=\\\"281\\\" src=\\\"https:\/\/www.youtube.com\/embed\/WudbiBkZBC0?feature=oembed\\\" frameborder=\\\"0\\\" allow=\\\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\\\" referrerpolicy=\\\"strict-origin-when-cross-origin\\\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\"><p>\n<cite>&#8220;Approval is inevitable. The dichotomy between futures and cash products cannot go on forever,&#8221; he said.<\/cite><\/p><\/blockquote>\n<p>Clayton noted that he was not surprised by the regulator <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-slips-below-26000-as-sec-decision-on-bitcoin-etfs-weighs-on-markets\">postpone<\/a> consideration of applications to launch spot Bitcoin ETFs from BlackRock, Fidelity, Bitwise, VanEck, WisdomTree, Invesco and Valkyrie at least until mid-October.<\/p>\n<p>In addition, the former head of the SEC declined to answer what he would do if he were in the position of current Chair Gary Gensler.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\"><p>\n<cite>&#8220;It is clear that bitcoin is not a security. It is clear that retail and institutional investors want access to it. And, more importantly, some of our most trusted providers want to offer bitcoin to the retail public,&#8221; he added.<\/cite><\/p><\/blockquote>\n<p>Co-founder of Morgan Creek Digital Anthony Pompliano expressed a similar view. In a CNBC interview he said the SEC would approve a spot Bitcoin ETF, and it would bring \\&#8221;billions of dollars\\&#8221; to the crypto industry.<\/p>\n<figure class=\\\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\\\">\n<div class=\\\"wp-block-embed__wrapper\\\">\n<iframe loading=\\\"lazy\\\" title=\\\"SEC Chair Gensler has 'an impossible job' with bitcoin ETF decision, says Anthony Pompliano\\\" width=\\\"500\\\" height=\\\"281\\\" src=\\\"https:\/\/www.youtube.com\/embed\/Zf0iSEK-RDI?feature=oembed\\\" frameborder=\\\"0\\\" allow=\\\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\\\" referrerpolicy=\\\"strict-origin-when-cross-origin\\\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<p>On June 15, BlackRock <a href=\"https:\/\/u1f987.com\/en\/news\/blackrock-files-for-bitcoin-etf-launch\">submitted<\/a> to the SEC an application for a digital-gold-based investment product. Following the financial giant, similar requests 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>. However the regulator <a href=\"https:\/\/u1f987.com\/en\/news\/wsj-reports-sec-reaction-to-blackrock-and-fidelity-spot-bitcoin-etf-filings\">returned<\/a> all filings.<\/p>\n<p>Subsequently, the companies promptly sent to the agency <a href=\"https:\/\/u1f987.com\/en\/news\/fidelity-and-others-amend-filings-for-bitcoin-etf-after-sec-reaction\">clarified proposals<\/a>. On July 14, the Commission <a href=\"https:\/\/u1f987.com\/en\/news\/sec-takes-up-review-of-spot-bitcoin-etf-applications\">began reviewing<\/a> applications from BlackRock, VanEck, Fidelity Investments, Invesco and WisdomTree.<\/p>\n<p>So far, the SEC has not approved any spot Bitcoin ETFs. The Commission has granted an exception for futures-based products from ProShares and Valkyrie Investments.<\/p>\n<p>In total, the regulator has 240 days from the start of the review process.<\/p>\n<p>Earlier, Bloomberg analysts James Seyffart and Eric Balchunas <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-analysts-raise-odds-of-a-spot-bitcoin-etf-this-year-to-75\">assessed<\/a> the probability of launching a spot Bitcoin ETF by the end of 2023 at 75%. The experts increased the odds after <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-surpasses-27500-after-court-ruling-in-grayscales-favour\">the legal victory of Grayscale<\/a> in the lawsuit against the SEC.<\/p>\n<p>Earlier, former SEC lawyer John Reed Stark <a href=\"https:\/\/u1f987.com\/en\/news\/ex-sec-lawyer-rules-out-approval-of-spot-bitcoin-etf\">ruled out approval<\/a> of a spot Bitcoin ETF. However, Bernstein experts <a href=\"https:\/\/u1f987.com\/en\/news\/bernstein-sees-high-odds-of-spot-bitcoin-etf-approval\">assessed<\/a> the chances of a new wave of bidders as high.<\/p>\n<p>Marathon Digital\u2019s CEO Fred Thiel <a href=\"https:\/\/u1f987.com\/en\/news\/marathon-chief-sees-bitcoin-etf-approval-as-highly-likely\">is bullish<\/a> about the outlook, and Tom Lee, co-founder of Fundstrat, <a href=\"https:\/\/u1f987.com\/en\/news\/tom-lee-bitcoin-price-could-breach-150000-after-etf-approval\">predicted<\/a> substantial gains for digital gold if the applications are approved.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The former chair of the U.S. Securities and Exchange Commission (SEC), Jay Clayton, told CNBC that the regulator will inevitably approve a spot Bitcoin ETF.<\/p>\n","protected":false},"author":1,"featured_media":83911,"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":[1138,128,1211],"class_list":["post-83910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-opinions","tag-sec","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83910","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=83910"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83910\/revisions"}],"predecessor-version":[{"id":83912,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83910\/revisions\/83912"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/83911"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=83910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=83910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=83910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}