Former US SEC Chairman: Ethereum is more like a "Broadway ticket

On April 22, Jay Clayton, former chairman of the US Securities and Exchange Commission (SEC), said in a recent interview with CNBC that he agrees with the current chairman of the SEC, Gary Gensler, that a large part of cryptocurrencies may fall under the category of securities. When asked whether Ethereum would be considered a potential unregistered security, Jay Clayton used the analogy of Broadway theater tickets, explaining that if a Broadway play is produced and future tickets are obtained, then this ticket will be considered a security. It is a security, but if the performance is successful and the ticket is sold, then the ticket is no longer a security, but just a ticket. This logic can also be applied to Ethereum.
Jay Clayton sees Ethereum as more of a "Broadway ticket" than a means of raising capital, though admits he doesn't know all the facts about it