US regulators were seen approving the first exchange-traded funds that invest directly in ether, the world’s second-largest cryptocurrency, in the latest boost to the $US2.4 trillion ($3.6 trillion) digital-asset industry.

The Securities and Exchange Commission signed off on spot-ether ETF applications from 21Shares, Bitwise Asset Management, BlackRock, Invesco, Franklin Templeton, Fidelity Investments and VanEck, according to regulatory filings as well as statements from asset managers on Monday.

Bloomberg