Former Chairman of the US Securities and Exchange Commission (SEC), Jay Clayton, believes that the agency should approve a spot Bitcoin ETF in America if interested companies can prove the safety of the product. Clayton stated that the SEC has previously approved futures Bitcoin ETFs but has been reluctant to approve a spot one. However, he noted that several prominent finance firms, including BlackRock, Invesco, and Fidelity Digital Assets, have recently filed to launch spot BTC ETFs, which he described as an “incredible development.” Clayton stated that if the spot market can demonstrate similar efficacy to the futures market, it would be hard for the SEC to resist approving a Bitcoin ETF. The article also mentions that the valuation of most cryptocurrencies, including Bitcoin, has increased since the filing of BlackRock’s spot BTC ETF.
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