Jay Clayton, the ex-chairman of the US SEC, the same person who declared again and again that the US market doesn’t need a crypto ETF, is now working with a company with its own Bitcoin ETF application.
Clayton, known in the crypto community for commenting that the Bitcoin market is vulnerable to market manipulation, so it shouldn’t have an ETF on the US stock exchange, has resigned from the SEC in 2020 and took a position of crypto advisor to One River Asset Management, a digital hedge fund.
The SEC received an application from One River today for a carbon-neutral Bitcoin ETF. The SEC now has eight such applications under review, from various companies.
The US market doesn’t have any Bitcoin ETFs available because, while Clayton was the boss of the SEC, all applications were blocked, using market manipulation, potential lack of liquidity, or the lack of transparency in the crypto market as excuses. Meanwhile, Canada has eight ETFs.
“The Trust intends to offset the carbon footprint associated with Bitcoin by purchasing and retiring carbon credits necessary to account for the estimated carbon emissions associated with the bitcoins held by the Trust,” reads the filing.
Source: Decrypt.co.