Soon: Launch of Ethereum-Specific Exchange-Traded Funds

The U.S. Securities and Exchange Commission (SEC) has approved amendments that will pave the way for the launch of exchange-traded funds (ETFs) specifically for Ethereum, the second-largest cryptocurrency in the world by market capitalization after Bitcoin. Approval has been granted for the listing of eight Ethereum funds; however, they still need to complete the necessary procedures before trading can commence in the markets. This decision comes less than six months after U.S. regulators approved the launch of Bitcoin-specific funds, which attracted inflows totaling $12 billion, according to FactSet. A decision on Ether funds was anticipated in late May, coinciding with the deadline for the SEC to rule on the VanEck Ethereum ETF.