Signs Point to an Inevitable Approval
The crypto space has been eagerly awaiting the approval of the first bitcoin spot exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC). There have been signs that the SEC may finally be warming up to the idea.
Remarks From Former SEC Chair
Former SEC Chair Jay Clayton recently stated that approval of a spot bitcoin ETF is “inevitable”. Clayton made the comments during a CNBC appearance, noting that the maturity of the bitcoin market has improved significantly compared to just a few years ago. Clayton’s remarks fueled optimism that the long-awaited approval may finally be close at hand.
However, #bitcoin‘s price fluctuated following a Matrixport report that speculated the SEC would reject current spot ETF applications. Max Thielson, Matrixport’s head of research, expressed skepticism about approval. But Jihan Wu, Matrixport’s co-founder, later contradicted this, saying an approval is “inevitable.”
Current Spot Bitcoin ETF Applications
Several companies have filed applications to launch a spot bitcoin ETF, including Invesco, VanEck, and WisdomTree. Approval of a spot ETF would likely result in greater mainstream adoption of bitcoin and crypto assets in the United States.
Hints of Approval From SEC Chair
Recent comments from SEC Chair Gary Gensler have also been interpreted on social media as hinting that a spot bitcoin ETF approval may finally be coming soon.
Overall, signs point to an inevitable approval at some point in the near future, which could be hugely significant for the future growth of cryptocurrency. Keep an eye out for official announcements – the approval of the first spot bitcoin ETF will be a watershed moment for the industry.