tl;dr
Former SEC Chair Jay Clayton predicts the inevitability of a spot Ethereum (ETH) exchange-traded fund (ETF) launching on American stock exchanges. He notes that while the SEC has approved the product itself, the trading of the ETF is pending approval of the registration statement. Clayton compares t...
Former SEC Chair Jay Clayton foresees the inevitability of a spot Ethereum exchange-traded fund (ETF) on American stock exchanges, as the SEC has sanctioned the product and is likely to approve its trading. Clayton compares the process to that of a Bitcoin product and underscores the necessity for the SEC to greenlight S-1 registration filings before trading can commence.
In a recent CNBC interview, Clayton emphasized that the SEC has already approved the ETF product itself, signaling a probable progression towards authorizing the actual trading of the ETF products. Notably, the SEC greenlighted form 19b-4 filings from BlackRock, Fidelity, VanEck, Grayscale, Bitwise, Ark, Franklin Templeton, and Invesco Galaxy concurrently. However, the firms' S-1 registration filings await SEC approval before trading can begin.
Clayton's insights suggest that the path towards an Ethereum ETF on American stock exchanges is unfolding, with regulatory approval edging closer, mirroring the precedent set by the Bitcoin product. This development underlines the growing traction of cryptocurrency-based investment products within traditional finance.
More about Emeren Group Ltd
Emeren Group Ltd develops, builds, operates, and sells solar energy projects. The company is headquartered in Stamford, Connecticut.
Industry: MANUFACTURING
Sector: SEMICONDUCTORS & RELATED DEVICES
Employees: 111699000
Revenue: $104,671,000
EPS: $1.852
P/E Ratio: -0.0891
Market Cap: $4.88
Dividend Yield: 3.42%
Beta: 1.128