Ethereum Leaps on SEC Approval for Token-Based Trading

The Ethereum cryptocurrency has surged 5.8% to $2,612.21, riding the wave of a broader market uptrend in the crypto sector.

This comes as the U.S. Securities and Exchange Commission (SEC) takes a significant step towards permitting token-based trading of stock-type securities.

The SEC's decision allows for the creation of temporary 'tokenized securities venues' (TSVs), which will enable blockchain versions of regularly listed stocks to be traded without registering as a stock exchange.

This move has been seen as a positive development for Ethereum, as it is likely to benefit directly from tokenized stocks being approved.