Prometheum, the Only U.S.-Registered Crypto Platform, Picks Ether as Its First Product
Summary
Prometheum Inc., the only U.S.-registered crypto securities platform, will handle Ethereum's ether (ETH) as its first digital asset. It aims to become a special-purpose broker-dealer and crypto custodian, with plans to open an alternative trading system. The company's choice of ETH as its opening asset may be influenced by the SEC's stance on whether ETH should be considered a security. Prometheum anticipates serving asset managers, hedge funds, investment advisers, banks, and other financial institutions. The outcome of its business plan and the SEC's potential intervention remain uncertain, as does the impact of ongoing court cases on how crypto securities will be defined.
