Former Securities and Exchange Commission (SEC) Chair Jay Clayton believes that the approval of a Bitcoin Exchange-Traded Fund (ETF) is “inevitable” due to significant interest from trusted financial providers. Clayton’s comments come after a court ruling criticized the SEC’s rejection of Grayscale’s ETF application. He emphasized the challenges faced by regulators in navigating the complex cryptocurrency landscape, particularly determining whether crypto assets are securities or nonsecurities. Clayton stated that financial providers with fiduciary duties are eager to offer Bitcoin products, which could enhance adoption of the largest cryptocurrency.

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