Summary
Former SEC Chair Jay Clayton believes that approval for a bitcoin spot ETF is inevitable and that there is nothing left to decide. Clayton, who resigned from his position at the end of 2020, previously brought charges against Ripple but saw the programmatic sale of the XRP token ruled as not an investment contract. Clayton has since become involved in the crypto space and joined the advisory board of crypto custody platform Fireblocks. A decision on potential spot bitcoin ETFs is expected later this week, and bitcoin’s price has spiked as investors anticipate SEC approval.
Key Points
1. Former SEC Chair Jay Clayton believes that approval for a potential bitcoin spot ETF is inevitable and there is nothing left to decide.
2. Clayton’s SEC brought charges against Ripple over an unregistered securities offering, but a judge ruled in favor of Ripple and dismissed some of the charges.
3. Clayton rejected bids to launch a bitcoin ETF during his tenure, but now seems to have a different stance on the matter.