AsianFin--U.S. regulators have officially approved spot exchange-traded funds (ETFs) for Ethereum's ether (ETH), providing American investors with easy access to the second major cryptocurrency through these trade-friendly vehicles.

This decision concludes a lengthy approval process by the Securities and Exchange Commission (SEC) for ether ETFs, following the regulator's approval of bitcoin (BTC) ETFs in January. Packaging ether in an ETF format makes it more appealing to traditional investors, as these funds can be bought and sold through conventional brokerage accounts.

Since their introduction in January, bitcoin ETFs have attracted tens of billions of dollars in investment.

Approval seemed uncertain just weeks ago. However, in late May, SEC officials unexpectedly began engaging with prospective ETF issuers after a prolonged period of silence. Then, on May 23, the regulator approved a critical filing, paving the way for full approval with this latest decision.