Proactive Investors – US regulator the Securities and Exchange Commission (SEC) has given the formal nod for numerous spot-Ethereum exchange-traded funds.
According to etf.com, the ETFs will commence trading when US markets open today, marking a historic day for the world’s second-largest cryptocurrency.
Spot-Ethereum ETFs will give traders access to the cryptocurrency on the traditional stock market for the first time, potentially opening up billions of dollars worth of institutional investment.
Earlier this year, the SEC approved spot ETFs tracking the world’s largest cryptocurrency bitcoin, kicking off a rally that sent it to an all-time high against the US dollar.
proponents have struggled to convince the regulators to approve Ethereum-based ETFs because of the perceived volatility and inherent risk of the underlying asset.
But as traditional financial institutions increasingly seek access to the cryptocurrency markets on behalf of their…
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