The Verizon iPhone comes preloaded with the unreleased iOS 4.2.5 and has Personal Hotspot built right into the Settings app. It’s unclear at the moment if the Personal Hotspot feature will be a Verizon exclusive.
Apple noted the following in the press statement:
“iPhone 4 on Verizon Wireless will also include new Personal Hotspot capabilities allowing customers to use iPhone 4 to connect up to five Wi-Fi enabled devices.”
If this is something you’ve always wanted, and you want it NOW, well … there’s still MyWi for your consideration. Just make sure you’re jailbroken and has Cydia on your iPhone device.