Nomura Securities' cryptocurrency division will launch an Ethereum ETF alternative.

After launching an ETF holding the Ethereum cryptocurrency, Nomura Holdings Inc.’s digital asset unit plans to offer a higher-yielding alternative that includes key components that U.S. issuers may have missed to help win regulatory approval. Nomura-owned Laser Digital plans to launch the fund in early September with support from Galaxy Digital and cryptocurrency startup Dinero. The fund will be open to so-called accredited investors, such as hedge funds and private investment offices, rather than retail buyers. Laser Digital sees the fund as an alternative to an Ethereum ETF, offering institutional investors exposure to Ethereum’s “arbitrage component.”