Ether ETFs officially began trading in the U.S. on Tuesday, putting the world's second largest crypto currency in a vehicle favored by many professional investors and advisors.
The new funds come from traditional fund issuers like BlackRock and Fidelity and crypto-specific companies such as Grayscale, marking another step in the increased integration of digital assets into mainstream finance.
The ether ETFs are widely expected to be smaller than the bitcoin funds, both because of the relative size of the two markets and the fact that ether may not be as familiar to many investors.
The ether ETFs also do not offer staking, which is a process that can give crypto-native investors additional yield.
Both the cheapest and most expensive funds come from Grayscale, which is effectively converting its multi-billion dollar private ether fund into two ETFs with different price points.
Persons:
Jay Jacobs, Sam Callahan
Organizations:
Fidelity, Swan
Locations:
U.S, BlackRock