The much-awaited spot Ethereum Exchange Traded Funds (ETFs) are set to begin trading by July 23 after the United States Securities and Exchange Commission (SEC) under Gary Gensler gave preliminary approval to some of the proposed issuers of the Ethereum ETF.  

After many months of lobbying and permutations, the United States Securities and Exchange Commission has finally approved Spot Ethereum Exchange Traded Funds (ETFs). This decision is coming five months after the US SEC approved Bitcoin ETFs leading to a large inflow of capital into the crypto industry.

The total transactions on the Ethereum network tore through that of Bitcoin by more than fourfold in 2022, data from DollarGeek has shown.

Google’s parent company, Alphabet Inc., has made a $1 billion equity investment in the Chicago Mercantile Exchange Group, the exchange responsible for many crypto derivatives products. This marks the first time the company is investing in cryptocurrency-related products.