Former SEC Chairman: Approval of Bitcoin Spot ETF is “Irresistible”

Binance News · 2023-07-11T01:20:18.000Z

According to Crypto Globe, Jay Clayton, the former chairman of the U.S. Securities and Exchange Commission (SEC), said in an interview, “When the SEC approved the Bitcoin futures ETF, the SEC believed that the market’s protection for end investors was adequate, but it did not do so at that time. This protection is seen in the spot market, hence the distinction. I think the institutions that have applied for Bitcoin spot ETFs now believe that those distinctions have disappeared and that the spot product is now less resistant and more efficient for investors. Bitcoin The approval of a currency spot ETF is hard to resist”.

According to Crypto Globe, Jay Clayton, former chairman of the U.S. Securities and Exchange Commission (SEC), said in an interview, "When the SEC approved the Bitcoin futures ETF, the SEC believed that the market provided adequate protection for end investors, but did not see such protection in the spot market at the time, so a distinction was made. I think that the institutions that have applied for Bitcoin spot ETFs currently believe that these distinctions have disappeared, and now spot products have less resistance and are more efficient for investors. The approval of the Bitcoin spot ETF is irresistible."