In yet another milestone for the entry of cryptocurrencies into mainstream finance, the US has authorized spot Ether exchange-traded funds.
The US Securities and Exchange Commission (SEC) has approved the first spot Ether (ETH) ETF applications from 21Shares, Bitwise Asset Management, BlackRock, Invesco, Franklin Templeton, Fidelity Investments and VanEck, according to regulatory filings and statements from asset managers. This paves the way for crypto’s further move into mainstream finance following the SEC’s approval of spot Bitcoin ETFs in January.
«The approval of spot Ethereum ETF is yet another pivotal milestone for digital assets,» commented John O’Loghlen, APAC managing director at Coinbase. «Solidifying ETH as a non-security is a seminal moment for the industry and indicates more broadly the acceptance and integration of crypto within traditional finance markets.»
