Ethereum exchange-traded funds start trading on US exchanges

By Ovunc Kutlu

ISTANBUL (AA) - Exchange-traded funds (ETFs) of Ethereum, the world's second biggest cryptocurrency after Bitcoin, have started trading Tuesday on major US stock exchanges.

The US' Securities and Exchange Commission (SEC) on Monday approved the final registration statements necessary for the ETFs to launch on major US stock exchanges that include the Nasdaq, the NYSE Arca, and the Chicago Board Options Exchange (CBOE).

The issuers for spot Ether, the native cryptocurrency on the Ethereum blockchain, include American multinational investment firm BlackRock, digital currency asset management company Grayscale Investments, brokerage firm Fidelity, in addition to 21Shares that offer cryptocurrency exchange-traded products, crypto index fund manager Bitwise Asset Management, holding company Franklin Templeton Investments, and investment management companies VanEck and Invesco Galaxy.

While BlackRock's iShares Ethereum Trust is listed on the Nasdaq, the Grayscale Ethereum Trust and Bitwise's spot ETF are listed on the NYSE Arca.

VanEck, 21Shares, Fidelity, Franklin Templeton and Invesco Galaxy's Ethereum ETF's are listed on the CBOE.

Bitcoin ETFs have seen approximately $17 billion net inflows since they were launched in January.