iOS 4.3 update to bring personal hotspot creation to GSM iPhones?

One of the major features of Verizon’s iPhone 4 is support for creating your own personal hotspots that supports up to five Wi-Fi devices to share the iPhone’s data connection. While there isn’t any official confirmation just yet, word is going around that Apple is planning to bring the same personal hotspot feature to GSM versions of the iPhone in the upcoming iOS 4.3 update.

If it were true, that would be great news for existing iPhone users, though the bad news is that the functionality will be subject to the approval of individual carriers. If AT&T’s track record for allowing tethering on the iPhone in any indication, we’re in for a long wait.