1 year ago
Fidelity Investments has filed for a spot Ethereum exchange-traded money (ETF), arsenic seen successful a filing with the Securities and Exchange Commission (SEC) connected Nov. 17.
Cboe BZX submitted a 19b-4 filing describing a projected regularisation alteration that would let it to database and commercialized shares of Fidelity’s planned fund. The caller Ethereum connection intimately resembles Fidelity’s spot Bitcoin ETF proposal, submitted to the SEC successful precocious June.
Both Fidelity filings travel akin applications from the company’s main competitor, BlackRock. BlackRock submitted an S-1 filing for its spot Ethereum ETF conscionable days ago, connected Nov. 15, and applied for its spot Bitcoin ETF months earlier successful June.
The adjacent timing betwixt the competing filings whitethorn beryllium explained by each plus manager’s exceptionally precocious standing. BlackRock is the largest plus manager successful the world, with $9 trillion successful assets nether management. Fidelity, connected the different hand, is the 3rd largest plus manager successful the world, with $4.2 trillion successful assets nether management.
Other firms person pending applications
Several different plus managers person besides applied for their ain spot Bitcoin ETFs and spot Ethereum ETFs pursuing the supra high-profile filings.
The SEC is expected to o.k. oregon cull a Bitcoin ETF by Jan. 10, 2024. That determination concerns a spot Bitcoin exertion from ARK Invest, which submitted its exertion successful May — astir 1 period earlier BlackRock submitted its much influential filing. The SEC could use its determination to different pending ETF applications, galore of which are intentionally akin to 1 another, successful bid to conscionable expected requirements.
Though the SEC volition measure immoderate spot Ethereum ETFs separately from spot Bitcoin ETFs, the support of 1 benignant of money whitethorn pave the mode for the other.
It should beryllium noted that though the SEC has not yet approved immoderate Bitcoin oregon Ethereum spot ETF, it has approved futures ETFs of some types successful caller months and years.
The station Fidelity files for spot Ethereum ETF, trailing BlackRock’s pb by 2 days appeared archetypal connected CryptoSlate.
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