Former SEC Chairman: Spot Ethereum ETF Trading is "Inevitable"

2024-05-25 09:02:58

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ChainCatcher news, former SEC Chairman Jay Clayton stated that the trading of a spot Ethereum ETF is "inevitable," but there are still questions. Clayton pointed out that the approval of the Ethereum ETF is a two-step process; it has received listing approval, but the approval of the product itself is still pending. He believes that, although there are still some issues to be resolved, such approvals are bound to happen. In comparing the differences in the approval of Ethereum ETFs and Bitcoin ETFs, Clayton mentioned that the underlying cryptocurrencies have different answers regarding whether they are considered securities or commodities. He noted that, although the underlying trading of Ethereum has not yet been explicitly classified, the market for spot trading of both Bitcoin and Ethereum has significantly developed. While the specific details of the Ethereum ETF have yet to be determined, these funds are expected to begin trading in July or August.

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