Bitcoin (BTC) ETF Approval "Inevitable," Says Former SEC Boss
In a recent interview with CNBC, former Securities and Exchange Commission (SEC) Chairman Jay Clayton expressed strong confidence in the inevitable approval of a Bitcoin Exchange-Traded Fund (ETF).
"I think there's nothing left to decide," Clayton asserted, emphasizing the maturity and readiness of the current Bitcoin market for such a significant step.
Clayton's perspective on Bitcoin ETFs
Discussing the evolution of the Bitcoin market, Clayton stressed the significant strides made in recent years. "Five years ago, there were issues like market laddering, but today, the Bitcoin trading market is much more robust and efficacious," he said.
Tomiwabold OlajideThese improvements, according to Clayton, have mitigated many of the risks that initially concerned the SEC. The former SEC boss pointed out that earlier issues like market manipulation and laddering have been addressed. This has paved the way for safer public access to Bitcoin through ETFs.
He also pointed out the crucial role of technology in creating a secure ETF structure.
The broader impact of ETF approval
The potential SEC nod to a Bitcoin ETF represents more than just a win for crypto enthusiasts. It signals a transformative moment in mainstream finance, offering investors a regulated and straightforward avenue to Bitcoin exposure.
"If you can digitize and tokenize underlying assets and trade them, that's a game-changer for finance," Clayton elaborated.
However, he tempered his optimism with a cautionary note on the need for continued regulatory vigilance to ensure investor protection in this evolving market.
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Dan Burgin
