US regulators were seen approving the first exchange-traded funds that invest directly in Ether, the world’s second-largest cryptocurrency, in the latest boost to the $2.4 trillion digital-asset industry.
The Securities and Exchange Commission signed off on spot-Ether ETF applications from 21Shares, Bitwise Asset Management Inc., BlackRock Inc., Invesco Ltd. Franklin Templeton, Fidelity Investments and VanEck, according to regulatory filings as well as statements from asset managers on Monday.
The SEC didn’t immediately return requests for comment.
The development paves the way for the imminent trading of the products. It’s been heralded by industry proponents as the latest sign that policymakers are capitulating to the virtual-currency boom after the success of US-listed Bitcoin ETFs, which have gathered billions of dollars from retail and institutional investors alike since January.
It all marks a softening in the regulatory climate after fund issuers were bracing for a rejection earlier this year. But optimism for approval suddenly rose in May, when the SEC signed off on filings by venues including Cboe Global Markets Inc., Nasdaq and the New York Stock Exchange to list the products.
Several issuers including BlackRock and Fidelity are waiving fees for an extended period of time once their funds begin trading.
Ether, the native token of the Ethereum blockchain, is up more than 50% year to date.
“Our clients are increasingly interested in gaining exposure to digital assets through exchange-traded products (ETPs) which provide convenient access, liquidity and transparency,” said Jay Jacobs, US head of thematic and active ETFs at BlackRock, in a statement. “Ethereum’s appeal lies in its decentralized nature and its potential to drive digital transformation in finance and other industries.”
In late June, VanEck submitted a filing for a product investing in Solana, the fifth-biggest cryptocurrency by market value, another attempt by ETF issuers to ride demand for digital assets.
Canadian stocks are on a roll in 2025 as the country prepares to name a new Prime Minister.
Two C-level leaders reveal the new time-saving tools they've implemented and what advisors are doing with their newly freed-up hours.
The RIA led by Merrill Lynch veteran John Thiel is helping its advisors take part in the growing trend toward fee-based annuities.
Driven by robust transaction activity amid market turbulence and increased focus on billion-dollar plus targets, Echelon Partners expects another all-time high in 2025.
The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
