SEC Takes Initial Step Toward Allowing Spot Ether ETFs

The crypto industry is closer to another landmark after the Securities and Exchange Commission paved the way for the eventual launch of the first US exchange-traded funds investing directly in the Ether token.

In a step deemed unlikely as recently as last week, the SEC signed off Thursday on a proposal by venues run by Cboe Global Markets Inc., Nasdaq and the New York Stock Exchange to list products tied to the second-biggest digital asset.