The road to Bitcoin ETF approval : Jay Clayton shares his optimism

Jay Clayton, former SEC chairman, shares his positive view on the Bitcoin spot ETF applications filed by major players in finance. Find out why he believes in the approval of these investment funds and what it means for the crypto community.

In a recent interview with CNBC, Jay Clayton, former chairman of the Securities and Exchange Commission (SEC), the US regulator, shared his views on the Bitcoin spot ETF applications filed by financial giants such as BlackRock, Fidelity, Ark Invest, Valkyrie, WisdomTree and Invesco.

According to Jay Clayton, if these major investment funds are able to provide regulatory guarantees comparable to those of the Bitcoin futures market, applications for Bitcoin ETFs should be approved. The distinctions between cash and futures markets are blurring, he believes, making the cash product less restrictive and more efficient for investors.

Optimism about the Bitcoin spot ETF?

What’s particularly remarkable, according to Jay Clayton, is the support of these financial institutions who, putting their reputations on the line, claim that the spot market is as efficient as the futures market. These strong arguments would make it hard to resist approving a Bitcoin ETF, he believes.

This positive and optimistic opinion from Jay Clayton appeases the crypto community as well as many investors who have long been waiting for the approval of a Bitcoin spot ETF by the SEC in the USA.

However, it’s important to note that SEC approval of a Bitcoin ETF is likely to take several months, requiring patience before knowing whether these investment funds will finally get the green light to launch one or more spot Bitcoin ETFs in the US.

Despite this encouraging news, the crypto-market remains uncertain. The requests for Bitcoin ETFs are a step in the right direction, but there is still much to be observed.

Nevertheless, many analysts are now optimistic about the future price of Bitcoin (BTC). The British bank Standard Chartered estimates that BTC could reach $50,000 by the end of 2023. Bitcoin is currently trading at around $30,400.

In summary, Jay Clayton’s interview underscores optimism about the potential approval of Bitcoin spot ETF applications. If these major financial players manage to offer solid regulatory guarantees, it could be difficult for the SEC to resist authorizing these ETFs. However, it should be borne in mind that the approval process may take some time. Even so, this positive outlook is helping to boost confidence within the crypto community and could have an impact on the future evolution of the Bitcoin price.