Two former executives from the U.S. Securities and Exchange Commission (SEC) recently expressed optimism about a Bitcoin spot ETF and believe the product is expected to be approved. The two former executives are former SEC Chairman Jay Clayton and former SEC Chief Counsel Stewart Miles. They stated that the SEC’s attitude towards Bitcoin ETFs has changed recently and believes that now is the time to approve such products. This change shows the SEC’s recognition of the maturity and development potential of the digital currency market. If the Bitcoin ETF is approved, it will provide investors with a more convenient way to participate in the digital asset market and further promote the popularity and acceptance of digital currencies.
Clayton and Myers believe that the SEC’s approval of a Bitcoin ETF will increase market transparency and regulatorability while increasing investment opportunities. They emphasized that Bitcoin has become an important part of the global financial market and is widely used and recognized. Therefore, they called on the SEC to approve Bitcoin spot ETFs as soon as possible to adapt to market changes and developments.
Although former SEC executives are optimistic about Bitcoin ETFs, their review and approval have been very strict.
Many Bitcoin ETF applications have been rejected or delayed indefinitely, so investors should treat this investment product with caution and understand the associated risks and uncertainties.
The application for Bitcoin spot ETF has entered a critical moment this week, and the market is optimistic that the SEC will approve several ETFs at the same time. At this critical moment, John Reed Stark, former director of the U.S. Securities and Exchange Commission’s Office of Cyber Enforcement, posted on social media There are reports of ETF-related conferences and consultations, and if these reports are true, it seems possible that there will be some kind of iteration of the Bitcoin spot ETF. Additionally, based on Chairman Gensler’s post today (sounds a lot like SEC Investor Alert regarding microcaps, penny stocks, options, high yield investment plans, etc.), it seems to me that the Commission has capitulated and will approve —Just let things take their course.
Former SEC Chairman Jay Clayton said in an interview with CNBC that the approval of spot ETFs is inevitable and he believes that there are no other doubts that need to be decided.
"Is the basic Bitcoin trading market strong enough, efficient enough, and trustworthy? It is much better today than it was five years ago."
At the same time, Jay also mentioned something that is often overlooked things, namely escrow, creation and redemption. He believes this is a big step for Bitcoin and the entire financial industry. He said that although he may be wrong in his prediction, he believes that the approval of the Bitcoin spot ETF is a done deal.
After listening to the statements of two important former employees, it is interesting that current SEC Chairman Gary Gensler also tweeted today to remind investors if they are considering investing in crypto assets.
The following should be noted:
Those providing cryptoasset investments/services may not comply with applicable laws, including federal securities laws, and investors in cryptoasset securities should be aware that they may would be deprived of critical information and other important protections related to their investments.
Investing in crypto assets can also be extremely risky and often extremely volatile, with many major platforms and crypto assets going bankrupt and/or losing value. Cryptoasset investments continue to face significant risks.
Fraudsters continue to take advantage of the growing popularity of crypto assets to lure retail investors into scams, and these investments continue to be rife with fraud – fake token offerings, Ponzi and pyramid schemes, and project launches Blatant theft of people disappearing with investor money.
A rare investment advice post was interpreted by the community as another sign that the Bitcoin spot ETF is about to be approved.
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