Spot Ethereum ETFs are officially coming to major stock exchanges in the United States of America.

‍What’s happening:‍

• The United States Securities and Exchange Commission has officially announced the approval of spot Ethereum ETFs to list on major stock exchanges
  

Why it matters:‍

• This is the second time the SEC has approved a spot ETF for digital assets, following their historic approval of spot Bitcoin ETFs earlier this year
  
• Spot Bitcoin ETFs have seen major adoption from hedge funds and institutional capital recently, amidst a race to own Bitcoin through traditional public markets
  

Going deeper:‍

• Multiple asset management companies have already applied for spot Ethereum ETFs, including VanEck, Fidelity, ARK21 Shares, Franklin Templeton and others
  

The intrigue:‍

• The largest spot Bitcoin ETF (NASDAQ: IBIT) is owned by BlackRock, who has also applied for a spot Ethereum ETF

The fine print:

• While the SEC has approved eight individual asset management companies to list spot Ethereum ETFs, they will still need to have their S1 registration statements become effective before they will officially begin trading