Former Securities and Exchange Commission (SEC) Chairman Jay Clayton believes that the approval of a spot Bitcoin Exchange-Traded Fund (ETF) is “inevitable.” Several companies have submitted applications for ETFs focused on spot Bitcoin, and the SEC extended the evaluation period by 45 days. The regulatory entity now has until October 2023 to determine whether to approve, reject, or further deliberate on the proposed rule modifications. Clayton’s assertion reflects the sentiment that approving a spot Bitcoin ETF is a matter of “when” rather than “if.”

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