Former SEC Chair Comments on Bitcoin ETF Approval

In this clip, former SEC Chair Jay Clayton comments on the prospects for approval of a bitcoin spot ETF. While he says a spot bitcoin ETF "should be approved" in theory, he expresses skepticism that the SEC will actually approve one at this time.

Clayton cites several factors that may make the SEC hesitant to approve a bitcoin ETF, including:

• The custodian for the ETFs (Coinbase) is currently being sued by the SEC, which may raise concerns
• The Biden administration has generally expressed skepticism toward cryptocurrencies
• The SEC has been cautious in approving crypto-related products to date

While Clayton believes a well-designed spot bitcoin ETF proposal could eventually be approved, he suspects the SEC may not be ready to approve one at this moment. His comments provide insight into some of the hurdles that bitcoin ETF applicants still face at the SEC.