Former chairman of the U.S. Securities and Exchange Commission (SEC), Jay Clayton, believes that the approval of a spot Bitcoin exchange-traded fund (ETF) in the U.S. is inevitable. He argues that Bitcoin is not a security and that both retail and institutional investors want access to it. Clayton also points out that large financial institutions are setting up surveillance networks to monitor spot market Bitcoin ETFs, addressing the SEC’s concerns about investor safety. The SEC has previously approved futures Bitcoin ETFs but rejected bids for spot market Bitcoin ETFs. However, a recent legal ruling against the SEC may compel them to reconsider their position.
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