SEC insider primes crypto market for $15 Trillion Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) spot ETF game-changer. Former U.S. Securities and Exchange Commission chairman Jay Clayton recently said eventual approval of a spot Bitcoin ETF is "inevitable" following the SEC punting a decision on ETF filings from asset managers who look after a combined $15 trillion until October.

"It’s clear that Bitcoin is not a security [despite SEC’s infamous allegations]. It is clear that Bitcoin is something that retail investors want to obtain access to, institutional investors want access to, and, importantly, some of our most trusted providers who are fiduciaries or have duties of best interest want to provide this product to the retail public” – he added.

Bitcoin and other major cryptocurrencies, including Ethereum and Ripple’s XRP, have been unsettled by the Federal Reserve this year – which could have led to a Bitcoin price nightmare, but it didn’t. Bitcoin prices are up nearly 70% so far YTD, fueled by a surge in Wall Street interest in cryptocurrencies amid the classic markets’ doldrums.

Now, in his turn, a former BlackRock executive predicts that it’s just a matter of months before the U.S. Securities and Exchange Commission approves a long-awaited Bitcoin spot exchange-traded fund (ETF) that would give the fund the green light to manage. BlackRock (BLK) is the world's largest institutional fund manager with assets under management valued at $17.7 trillion.