The U.S. Securities and Exchange Commission has greenlighted proposals from Cboe, NYSE Arca and Nasdaq to list exchange-traded funds tracking the value of Ether, the native cryptocurrency of the Ethereum blockchain. (The Logic)

Talking point: The approvals bring the U.S. one step closer to listing Ether ETFs. Would-be managers of the investment products—which include investment giants BlackRock, Fidelity and Franklin Templeton—require separate approvals. Bitcoin ETFs, which debuted in January, have proven wildly popular. The crypto industry cheered the SEC’s decision, which observers had considered unlikely as recently as last week. The regulator had previously appeared to be building a case that Ether was a security, prompting Texas-based blockchain software company Consensys to file a pre-emptive lawsuit in April. Canada already has Ether ETFs. Earlier this month, Toronto-based crypto firm Ether Capital announced it would wind down and convert into an ETF managed by Purpose Investments.