Euro Currency Trust (FXE), and EFT of Euro currency http://finance.yahoo.com/q?s=fxe , has been traded since this year. Here is one interesting comment about it http://yahoo.smartmoney.com/etffocus/index.cfm?story=20060621&afl=yahoo : "Once you enter a derivative like an ETF, you lose liquidity," says Ward. "If the market starts tanking and you want out, who will be there to buy your position? In the spot market you always have a buyer and seller because many players need the currencies to transact international business." How about your votes/ comments?