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The news that the Verizon iPhone 4 will have an inbuilt Wi-Fi hotspot for up to five devices has prompted a report today on MacRumors that the same facility will also be coming to GSM iPhones via iOS 4.3. The Verizon iPhone 4 comes equipped with iOS update 4.2.5, and MacRumors says that according to iPhoneclub.nl and iPhoneHellas, a new update for GSM iPhones will also introduce the feature. Apparently though, whether or not the feature will be active and usable on your own particular iPhone depends on it being approved by your specific carrier. MacRumors reports that AT&T has said that it is evaluating the hotspot facility. Dont hold your breath though - as MacRumors points out, when the Internet tethering feature was introduced in iPhone OS 3.0 back in 2009, AT&T didnt support the feature until a year later when iOS 4.0 was released, due to worries about network performance. iPhone owners outside of the US can be a lot more optimistic, however, as traditionally international carriers have been much quicker to support similar new features.
Source: iOS 4.3 to Bring Mobile Hotspots to GSM iPhones, Pending Carrier Support? - Mac Rumors