{"id":311040,"date":"2024-05-28T00:43:17","date_gmt":"2024-05-27T19:13:17","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=311040"},"modified":"2024-05-28T00:43:17","modified_gmt":"2024-05-27T19:13:17","slug":"former-sec-chair-jay-clayton-says-approval-and-trading-of-ethereum-etfs-now-inevitable-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/former-sec-chair-jay-clayton-says-approval-and-trading-of-ethereum-etfs-now-inevitable-crypto-news\/","title":{"rendered":"Former SEC Chair Jay Clayton Says Approval and Trading of Ethereum ETFs Now \u2018Inevitable\u2019 – Crypto News"},"content":{"rendered":"

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Jay Clayton, the former Chair of the U.S. Securities and Exchange Commission (SEC), says it\u2019s inevitable that a spot Ethereum (ETH<\/a>) exchange-traded fund (ETF) will go live on American stock exchanges.<\/p>\n

In a new interview on CNBC television, Clayton notes that the SEC has already approved the product itself, and will likely proceed to approving the actual trading of the ETF products.<\/p>\n

\u201cThere\u2019s two pieces of approval for one of these types of products. There\u2019s the listing approval which is what happened [on May 23rd], and then there\u2019s the approval of the product itself which is still pending. That\u2019s called the registration statement. That we need to find out. <\/em><\/p>\n

T<\/em>hey always say \u2018This product is eligible for listing\u2019 but it will not actually be trading until that registration statement is approved\u2026<\/em><\/p>\n

So it\u2019s a step in the direction [of ETH ETFs trading].<\/em><\/p>\n

I think it means it\u2019s inevitable. We went through this same process with the Bitcoin product where almost all or all of the questions were decided. The question that was decided [on May 23rd], to speak technically, is that this market is efficacious enough for this product to be listed on the exchange, but there are other questions out there.\u201d<\/em><\/p>\n

Last week, the SEC\u00a0approved<\/a> form 19b-4 filings from BlackRock, Fidelity, VanEck, Grayscale, Bitwise, Ark, Franklin Templeton and Invesco Galaxy simultaneously.<\/p>\n

Although the products have nearly obtained the full go-ahead, the SEC must approve the firms\u2019 S-1 registration filings before trading can begin.<\/p>\n