As the anticipation for the potential approval of Bitcoin ETF applications from major asset managers continues to grow, former US Securities and Exchange Commission (SEC) chair Jay Clayton has shared his insights on the matter. In a recent interview with CNBC, Clayton expressed his belief that the approval of Bitcoin ETFs is not a question of if, but when. He emphasized the improved robustness and efficacy of the Bitcoin trading market over the past five years.
Furthermore, Clayton highlighted the importance of the technology supporting these ETFs, particularly the custody, creation, and redemption processes. He also noted that the ability to tokenize and digitize underlying assets represents a significant step forward with implications beyond the crypto space, potentially bringing about significant changes in the broader financial industry.
Clayton’s consistent stance favoring Bitcoin ETF approval is evident in his recent comments, aligning with his previous statements during his tenure as SEC chair. He noted the increasing demand from both institutional and retail investors for regulated exposure to Bitcoin through investment products. Additionally, he recognized the significance of institutional players entering the crypto industry, addressing some of the SEC’s concerns regarding market manipulation and lending credibility to the space.
The anticipation surrounding Bitcoin ETF approval has grown even further with reports from CNBC indicating that trading of Bitcoin ETFs could commence within days. According to sources close to the process, the trading launch may take place between Thursday and Friday, coinciding with the application deadline for Ark Invest and 21 Shares. This development is indicative of a shift in acceptance of cryptocurrencies within the regulatory landscape and presents an opportunity for investors to access Bitcoin through regulated investment vehicles.
As of the latest updates, the excitement surrounding the potential approval has driven Bitcoin to the $46,900 mark, showcasing a positive response from the market.
It is important to note that the insights and information provided in this article are for educational purposes only and do not represent the opinions of any specific entity. Investing carries inherent risks, and individuals are encouraged to conduct their own research and due diligence before making any investment decisions.
