© Reuters

Following the United States Securities and Exchange Commission (SEC) delaying decisions on several spot exchange-traded funds, former commission chair Jay Clayton said he believed approval was still going to happen at some point.

In a Sept. 1 interview with CNBC, Clayton said major financial institutions backing spot Bitcoin (BTC) investment vehicles represented a shift in how retail investors could get exposure to crypto. On Aug. 31, the SEC designated a longer period in which it could review spot BTC exchange-traded fund (ETF) applications from BlackRock (NYSE:), WisdomTree, VanEck, Invesco Galaxy, Bitwise, Valkyrie and Fidelity.

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