May 23, 2024, the SEC approved the first investment products
linked to the price of Ether for listing and trading on three
exchanges, following approval of the first Bitcoin ETFs earlier
this year. Ether, the cryptocurrency tied to the Ethereum
blockchain, is the next most widely held cryptocurrency after
Bitcoin. ETFs, or exchange traded funds, are baskets of
assets, enabling investors to buy shares of the ETF through their
broker or online, rather than buying the individual cryptocurrency
through their digital wallet.
The Grayscale Ethereum Trust and the Bitwise Ethereum ETF have
been approved for trading on the NYSE Arca; while the iShares
Ethereum Trust has been approved for trading on Nasdaq.