Former SEC Chairman Jay Clayton Says Approval and Trading of Ethereum ETFs Now ‘Inevitable’

Jay Clayton, the former chairman of the United States Securities and Exchange Commission (SEC), says it is inevitable that an Ethereum spot (ETH) exchange-traded funds (ETFs) will go live on US exchanges.

In a new CNBC television interview, Clayton notes that the SEC has already approved the product itself and will likely proceed with approving actual trading of ETF products.

“There are two authorizations for one of these product types. There is the approval of the registration, that’s what happened [on May 23rd], and then there is the approval of the product itself which is still pending. This is called the registration statement. This is what we need to find out.

They always say “This product is eligible for listing”, but it won’t actually go to market until this registration statement is approved…

It is therefore a step in the direction [of ETH ETFs trading].

I think that means it’s inevitable. We followed the same process with the Bitcoin product, where almost all questions were resolved. The question that was decided [on May 23rd]technically speaking, this market is efficient enough for this product to be listed on the stock exchange, but other questions arise.

Last week, the SEC approved Form 19b-4 filed simultaneously by BlackRock, Fidelity, VanEck, Grayscale, Bitwise, Ark, Franklin Templeton and Invesco Galaxy.

Although the products have almost gotten the green light, the SEC must approve the companies’ S-1 filings before negotiations can begin.

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