The US SEC has given the green light for spot Ether exchange-traded funds (ETFs), and the approved ETFs may begin trading as early as tonight when the US markets open for trading.

As many as nine spot Ether ETFs have been given approval as of today, giving investors plenty of options to choose from and gain exposure to the second-largest digital asset by market cap. They are:

• 21Shares Core Ethereum ETF (CETH)
• Bitwise Ethereum ETF (ETHW)
• Fidelity Ethereum Fund (FETH)
• Franklin Ethereum Trust (EZET)
• Invesco Galaxy Ethereum ETF (QETH)
• iShares Ethereum Trust ETF (ETHA)
• VanEck Ethereum ETF (ETHV)
• Grayscale Ethereum Trust (ETHE)
• Grayscale Ethereum Mini Trust (ETH)

This announcement is likely to be seen as a positive development for the digital asset industry, as the spot ETFs, which track the current prices of an underlying asset, allow traditional investors to gain exposure to cryptocurrencies without the oftentimes complicated process of investing in them since they are traded in the stock exchange alongside stocks and other ETFs.

While this won’t be the first time spot Ether ETFs are approved – Hong Kong’s Securities and Futures Commission approved several spot Ether and Bitcoin ETFs for trading in the Hong Kong Stock Exchange in April this year – it will likely have a higher impact due to the sheer size and accessibility of the US stock exchange. When Bitcoin spot ETFs were approved in January, many analysts agree that it played a key role in pushing Bitcoins prices to new all-time highs earlier this year.

(Source: Coindesk, Investopedia)

• TAGS:
• ETF
• Ether
• Ethereum
• Spot Ether ETF