Former SEC Chair Says Bitcoin ETF Could Be Approved—If These Conditions Are Met - Decrypt
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Former SEC Chair Says Bitcoin ETF Could Be Approved—If These Conditions Are Met
The former SEC chair said that a Bitcoin ETF will be approved in the States if an applicant can prove it's an efficient way for investors to buy BTC.
By Ma Former SEC Chairman Jay Clayton today said that regulators woul
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Former SEC Chairman Jay Clayton believes that a spot Bitcoin exchange-traded fund (ETF) could be approved if it can prove to be as efficient as a futures ETF. Clayton stated that if the spot market can demonstrate similar efficacy to the futures market, it would be difficult for regulators to resist approving a Bitcoin ETF. BlackRock, the world's largest asset manager, recently applied for a spot Bitcoin ETF, attracting institutional investors to the space. The SEC has been hesitant to approve a spot Bitcoin ETF due to concerns about price manipulation and the need for clearer surveillance-sharing agreements.
Top Highlights
- Former SEC Chair Says Bitcoin ETF Could Be Approved—If These Conditions Are Met The former SEC chair said that a Bitcoin ETF will be approved in the States if an applicant can prove it's an efficient way for investors to buy BTC. By Ma
- Former SEC Chairman Jay Clayton today said that regulators would find it “hard to resist” approving a spot Bitcoin exchange-traded fund (ETF) if such a product performs the same functions as a futures one. Speaking in a CNBC interview Monday, Clayton said that the SEC would have to see that a spot product application would provide “similar efficac...
- He argued that although he was very skeptical of Bitcoin trading when he was the SEC boss, he now finds it “pretty remarkable” that major players in traditional finance want to put their name on spot ETF applications.
- BlackRock, the world’s largest asset manager, last month applied to the SEC for a spot Bitcoin ETF, leading institutional investors to pour money into the space. “If they’re [applicants] right—that the spot market has similar efficacy to the futures market—it would be hard to resist approving a Bitcoin ETF,” Clayton said
- An ETF is a type of investment vehicle that tracks the underlying price of an asset. Investors are able to buy shares of gold, foreign currencies or crypto via ETFs—instead of owning the product themselves. A spot Bitcoin ETF is a hot topic right now as one does not yet exist in the States;
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