Bitcoin News

Bitcoin ETF “Approval Is Inevitable”: Ex-US SEC Chair Jay Clayton

Jay Clayton, the former Chair of the U.S. SEC, expressed confidence on the probability of the first spot Bitcoin ETF product getting approved.
Published by
Bitcoin ETF “Approval Is Inevitable”: Ex-US SEC Chair Jay Clayton

Jay Clayton, the former Chair of the U.S. Securities and Exchange Commission (SEC) expressed confidence on the probability of the first spot Bitcoin ETF product getting approved in the United States. He said the retail investors are willing to gain access to the cryptocurrency while the large institutions with surveillance mechanisms like Blackrock want to provide the product to the retail investors.

Also Read: Binance LUNC Burn Drops Below One Billion For The First Time, Community Reacts

Clayton’s comment comes at a jubilant time in the crypto market, where the chances of getting the first ever spot Bitcoin ETF got better thanks to the recent court judgment granting approval to Grayscale’s motion to allow the conversion of its GBTC Bitcoin Trust into a spot ETF. However, the Bitcoin price is yet to show signs of bullish trend over the development.

Advertisement

Spot ETF “Approval Is Inevitable”

The former SEC Chair said the approval of spot ETF is inevitable in the current circumstances, as the large financial institutions like Blackrock, Fidelity and Ark Invest have grown confidence in cash trading in relation to the crypto assets. He said the companies have cleared the air around fears that the trading was manipulative. Clayton added,

“It is clear that Bitcoin is not a security. It is something that retail investors want access to and importantly some of our most trusted providers want to provide this product to the retail public. An approval is inevitable.”

Earlier, CoinGape reported analyst comments that the odds for approval rose to 75% over the court’s granting the Grayscale motion to convert the company’s Bitcoin Trust (GBTC) into a spot Bitcoin ETF. On August 29, 2023, the US Court of Appeals for the District of Columbia Circuit handed the company a win the lawsuit against the federal regulatory agency.

Also Read: XRP Price Prediction Begins Bullish Action, Path To $1 Clear?

Advertisement

Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Will Bitcoin Reverse to $115K Max Pain Price amid Crypto Options Expiry Today?

Bitcoin surges above $120K following massive capital inflows into the crypto market in response to…

October 3, 2025
  • 24/7 Cryptocurrency News

Cardano Gets 100 Million User Exposure With Brave Integration, Whales Scoop 70M ADA

Cardano announced its integration with self-custody crypto wallet Brave, which gives native cryptocurrency ADA exposure…

October 3, 2025
  • 24/7 Cryptocurrency News

Japanese Gaming Firm Gumi to Boost Treasury With BTC, XRP After $38M Raise

Japan’s gaming and blockchain leader, Gumi Inc., has revealed plans to strengthen its balance sheet…

October 3, 2025
  • Altcoin News

BNB Leads Crypto Market Rally With Fresh All-Time High, Expert Sees $5000 Upside

BNB, the native cryptocurrency of Binance, has seen a strong 8% upside, hitting a new…

October 3, 2025
  • 24/7 Cryptocurrency News

Billionaire Ray Dalio Calls Bitcoin “Alternative Money” as BTC Profit-Taking Tops $3.7B Amid $120K Rally

Billionaire hedge fund manager Ray Dalio has touted Bitcoin as “alternative money” as it continues…

October 3, 2025
  • 24/7 Cryptocurrency News

Canary Litecoin ETF Delayed Due to Government Shutdown, What’s Next?

The U.S. Securities and Exchange Commission (SEC) has missed its final deadline on the Canary…

October 3, 2025