May 23, 2024, the SEC approved the first investment products linked to the price of Ether for listing and trading on three exchanges, following approval of the first Bitcoin ETFs earlier this year. Ether, the cryptocurrency tied to the Ethereum blockchain, is the next most widely held cryptocurrency after Bitcoin. ETFs, or exchange traded funds, are baskets of assets, enabling investors to buy shares of the ETF through their broker or online, rather than buying the individual cryptocurrency through their digital wallet. 

The Grayscale Ethereum Trust and the Bitwise Ethereum ETF have been approved for trading on the NYSE Arca; while the iShares Ethereum Trust has been approved for trading on Nasdaq. 

In addition, the VanEck Ethereum Trust, the ARK 21Shares Ethereum ETF, the Invesco Galaxy Ethereum ETF, the Fidelity Ethereum Fund, and the Franklin Ethereum ETF have all been approved for trading on the CBOE BZX. Before investors can begin trading Ethereum ETFs, the SEC must also approve the separate applications from the respective issuers, which could take several months.