Laser Digital, under the Mizuho Securities umbrella, announced plans to launch a fund in early September in collaboration with Galaxy Digital and cryptocurrency startup Dinero. This fund is specifically designed for accredited investors such as hedge funds and private investment offices, not for retail investors. Laser Digital positions this fund as a strong competitor to an Ethereum ETF, aiming to provide institutional investors with opportunities to access the 'arbitrage component' of Ethereum. The move is intended to meet the market's demand for higher-yielding Ethereum investment tools and to strengthen its competitive position in the digital assets sector through the provision of more comprehensive structured products.