Prometheum Soft-Launches Ether Custody Services, Treating it as a Security

Controversial digital asset firm Prometheum Capital has soft-launched Ether ETH/USD custody services in a way that treats ether as a security under the supervision of the U.S. Securities and Exchange Commission. Prometheum originally planned on offering the service in the first quarter of 2024, having selected ether as the first digital asset for its crypto custodial services in February. However, it soft-launched the product with an unnamed small group of companies on Friday and intends to fully launch custody services in June, Fortune first reported on Monday, confirmed by The Block. Prometheum co-CEO Aaron Kaplan reportedly told the outlet that trading services would begin within a quarter.