The U.S. Securities and Exchange Commission (SEC) has recently approved the listing of ETFs that invest in the cryptocurrency Ether, a move facilitated by thorough reviews of applications from Nasdaq, Cboe Global Markets, and the New York Stock Exchange.
These spot Ethereum ETFs align with the requirements of the Securities Exchange Act, although the SEC must still approve individual asset manager applications before trading can begin.
This development comes on the heels of the SEC’s cautious approval of bitcoin ETFs and has been well received by the crypto community and asset managers eager to launch these funds, such as VanEck. Spot Ethereum ETFs offer investors a way to gain exposure to Ether without directly purchasing or managing the digital asset.
This is significant as Ether underpins the Ethereum network, a platform for smart contracts and decentralized applications, and is the second-largest cryptocurrency by market capitalization.
It’s important to note that owning an ETF does not provide the same anonymity or direct utility as owning actual Ethereum, which may influence investor decisions
However, if you are seeking to purchase Ethereum. HoneyBadger can offer payments via Kiosks, Online Portal and our Over the Counter Platform for large transactions!
