Spot-Ether ETFs: What They Are, Why the SEC Approved Them

US regulators have approved the first US exchange-traded funds investing directly in Ether, the world’s second-largest cryptocurrency — a step that seemed like a virtual impossibility at the start of 2024.

Eight issuers including BlackRock Inc., Invesco Ltd. and Fidelity Investments were among those that received the green light from the US Securities and Exchange Commission in July. Many of them were players during the debut of spot Bitcoin ETFs in January.