Jay Clayton, the former Chair of the U.S. Securities and Exchange Commission (SEC), believes that an Ethereum (ETH) exchange-traded fund (ETF) will soon be available on American stock exchanges. In an interview on CNBC, Clayton explained that while the SEC has already approved the listing of the product, they still need to approve the registration statement before it can begin trading. However, Clayton sees this as a positive step towards the eventual trading of ETH ETFs. He compared it to the process of approving a Bitcoin product, where most of the questions were already decided before it was listed on the exchange. Last week, the SEC approved form 19b-4 filings from several major firms, including BlackRock and Fidelity, bringing ETH ETFs closer to fruition. However, the SEC still needs to approve the firms’ S-1 registration filings before trading can commence.
