Jay Clayton, the former Chair of the U.S. Securities and Exchange Commission (SEC), predicts that an Ethereum (ETH) exchange-traded fund (ETF) will soon be available on American stock exchanges. In an interview on CNBC, Clayton explains that the SEC has already approved the product itself and is likely to proceed with approving the actual trading of the ETFs. However, the registration statement still needs approval before trading can begin. Clayton compares the process to that of Bitcoin ETFs, where similar questions were addressed before approval. Last week, the SEC approved form 19b-4 filings from several firms, including BlackRock, Fidelity, and Grayscale, bringing the ETFs closer to full approval. However, the SEC still needs to approve the firms’ S-1 registration filings before trading can commence.