Former Securities and Exchange Commission (SEC) Chair Jay Clayton has expressed support for the approval of Bitcoin Exchange-Traded Funds (ETFs), which could have positive implications for the cryptocurrency. Clayton, who previously held a cautious stance towards cryptocurrencies, acknowledged the progress made by the industry and the trust established by well-established companies. The increasing number of Spot Bitcoin ETF proposals from major financial institutions reflects a shift in viewpoint. However, the fate of these proposals ultimately lies with the SEC. Additionally, Standard Chartered now sees a 20% upside to their previous projection of a $100,000 value for Bitcoin by the end of 2024.
AI Sentiment: Positive
