$ETH Former SEC Chairman shares his opinion on Ethereum ETF Spot trading
Former US Securities and Exchange Commission (SEC) Chairman Jay Clayton recently discussed the inevitability and challenges associated with trading of Ethereum Spot ETFs.
In light of the recent SEC approvals, Clayton also explained what will happen next and the issues that remain for these funds to begin trading.
Former SEC Chairman Jay Clayton discussed the process and consequences of the newly launched Ethereum Spot ETFs. Clayton said that the SEC's approval to list these ETFs is a positive sign, but he explained that listing approval is different from product approval.
Clayton also touched on the possibility of approval for Ethereum ETE funds, noting that this has been previously discussed for Bitcoin products.
Legal challenges and market developments
While recent approvals suggest Wall Street may be opening up to cryptocurrencies, there are significant legal differences between Ethereum (ETH) and Bitcoin (BTC), especially in how regulators regulate them. America classifies them.
While Bitcoin's status is quite clear as an investment product, the classification of Ethereum is more problematic.
Clayton also pointed to the growth of the Spot cryptocurrency market. He pointed out that the Bitcoin Spot and Ethereum Spot markets have "evolved tremendously over time," while trading volumes reached record highs. This growth is important to the approval process because it represents one of Clayton's concerns at the SEC.
