SEC approves launch of first spot ETFs investing in Ethereum cryptocurrency

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23.07.2024, 15:50

The US Securities and Exchange Commission (SEC) has approved the launch of the first exchange-traded funds (ETFs), investing directly in the Ethereum cryptocurrency , the Financial Times writes, citing fund organisers.

SEC approves launch of first spot ETFs investing in Ethereum cryptocurrency

YEREVAN, 23 July. /ARKA/. The US Securities and Exchange Commission (SEC) has approved the launch of the first exchange-traded funds (ETFs), investing directly in the Ethereum cryptocurrency , the Financial Times writes, citing fund organisers.

Among others, Grayscale Investments, BlackRock and Fidelity funds have been approved. Trading in their shares began on Tuesday, Interfax notes.

According to Bloomberg Intelligence, all but one of the funds will have commissions below 0.25%. At the same time, at least five issuers do not plan to charge commissions from investors at the initial stage of trading.

Last year, the SEC approved the launch of the first ETFs investing in ether futures, and in January this year – in spot bitcoin-ETF.

Ether is the second most popular cryptocurrency in the world after bitcoin. Its market capitalisation is about $415 billion.-0-

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