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According to the most recent statements by Jay Clayton, former chairman of the U.S. Securities and Exchange Commission (SEC), the approval of bitcoin spot exchange-traded funds (ETFs) is an "inevitable" fact.
The U.S. lawyer has offered several statements to the media on the subject of ETFs in recent days. In them, he reiterates the idea that authorities at the federal agency are unlikely to object to the requests. Hence, he considers that "there is nothing left to decide".
In this regard, he highlights the changes that the market has undergone and the technological infrastructure that, in his opinion, now make bitcoin (BTC) more accessible to traditional financial markets.
Clayton was chairman of the SEC between 2017 and 2020, during which time he rejected the development of this type of product, questioning the legitimacy of the cryptocurrency market. His opinion is different now, as he thinks that before there was not an adequate level of conditions to properly custody and secure bitcoin.