Jay Clayton, chairman of the U.S. Securities and Exchange Commission (SEC), said Tuesday that he doesn't see a pathway to a cryptocurrency ETF approval until concerns over market manipulation are addressed.
"How that [manipulation] issue gets addressed, I don't have a particular path. But it needs to be addressed" before an ETF gets approved, Clayton remarked during CoinDesk's Consensus: Invest conference.
"The prices retail investors are seeing are the prices they should rely on, and free from manipulation - not free from volatility, but free from manipulation," Clayton said during his appearance, which was moderated by investor Glenn Hutchins.