SEC approves launch of first spot ETFs investing in Ethereum cryptocurrency

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YEREVAN, 23 July. /ARKA/. The US Securities and Exchange Commission (SEC) has approved the launch of the first exchange-traded funds (ETFs), investing directly in the Ethereum cryptocurrency , the Financial Times writes, citing fund organisers./pp

Among others, Grayscale Investments, BlackRock and Fidelity funds have been approved. Trading in their shares began on Tuesday, Interfax notes./pp

According to Bloomberg Intelligence, all but one of the funds will have commissions below 0.25%. At the same time, at least five issuers do not plan to charge commissions from investors at the initial stage of trading./pp

Last year, the SEC approved the launch of the first ETFs investing in ether futures, and in January this year – in spot bitcoin-ETF./pp

Ether is the second most popular cryptocurrency in the world after bitcoin. Its market capitalisation is about $415 billion.-0-/p