Americans Gain Access to Ethereum via Exchange-Traded Funds

🔵U.S. regulators have approved the creation of spot exchange-traded funds (ETFs) that hold Ethereum. This decision concludes a multi-year approval process for Ethereum ETFs by the Securities and Exchange Commission (SEC) and follows the approval of Bitcoin ETFs in January.

🔵The approval and launch of spot Bitcoin ETFs in January drove the price of the largest cryptocurrency to new record highs, rising over 58% in just two months. Some analysts predict that the inflow into Ethereum-focused funds will be significantly lower than that of Bitcoin ETFs. Research firm Steno Research estimates that the newly launched Ethereum ETFs could attract between $15 billion and $20 billion in their first year.