Former SEC Chair Jay Clayton believes that a spot Bitcoin exchange-traded fund (ETF) could be approved if certain conditions are met. He stated that if the spot market has similar efficacy to the futures market, it would be difficult for regulators to resist approving a Bitcoin ETF. Clayton, who was initially skeptical of Bitcoin trading, now finds it remarkable that major players in traditional finance want to be associated with spot ETF applications. The approval of a spot Bitcoin ETF is a hot topic, as it does not yet exist in the United States. The SEC has been hesitant due to concerns about price manipulation and the need for clearer surveillance-sharing agreements to prevent fraud and manipulation. Investors are eager for a spot Bitcoin ETF because it would provide access to Bitcoin without requiring custody of the asset.

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