Daro gazmun

(Updates news EC5074 with data at the close of European markets)

Madrid, May 24 (.).- Ether, the cryptocurrency of the Ethereum network, fell just over 1% this Friday after the SEC, the US stock market supervisor, approved this Thursday the creation of exchange-traded funds (ETF) linked to the spot price of this cryptocurrency, the second most used in the world after bitcoin.

The US Securities and Exchange Commission (SEC) already authorized the trading of ETFs linked to the spot price of Bitcoin in January, which facilitated the entry of large institutional investors into the market. cryptocurrencies.

At the closing time of the European markets, ether was down 1.3% and was around $3,710. However, the price had rebounded in recent sessions amid rumors that the SEC could rule soon.

The SEC yesterday authorized, in an accelerated manner, the applications submitted by a series of large funds, including Fidelity, Franklin Templeton, Grayscale or VanEck, to create ETFs linked to the spot price of ether, according to a communication from that body.

Although the US supervisor's decision is a key step, the applicant funds still need to complete one last step, the filing with the SEC of a document known as S-1, before the ETFs can begin trading.

The SEC is not the only supervisor that has already approved ether-linked ETFs. In April, the Hong Kong Securities and Futures Commission (SFC) authorized the creation of ETFs linked to the price of bitcoin and ether.

The digital asset platform Bit2Me has highlighted today that the measure adopted by the SEC could mean "the injection of billions of dollars into the crypto ecosystem."

According to Bit2Me, ether spot ETFs will facilitate "the process of exchanging securities on the stock exchange as if they were ordinary shares."

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