The US Securities and Exchange Commission has approved the first spot ethereum exchange traded funds, another landmark for cryptocurrency advocates and investors following the debut of bitcoin ETFs earlier this year.
The ether ETFs, including the conversion of a $9.3bn Grayscale Investments trust and new launches from bitcoin ETF giants BlackRock and Fidelity, gained approval from the SEC on Monday afternoon, with trading set to begin as early as Tuesday, according to fund sponsors. The SEC did not immediately respond to a request for comment.
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