Fidelity Spot Ethereum ETF Now Acknowledged By The SEC
The US Securities and Exchange Commission (SEC) has officially tinanggap Fidelitys application to list a Fidelity spot Ethereum ETF, according to a recent SEC filing. Fidelity Spot Ethereum ETF Proposed to SEC for Tracking Fidelity Ethereum Index The filing, submitted by Cboe BZX Exchange, outlines the proposal to list and trade shares of the Fidelity spot Ethereum ETF, structured as a commodity-based trust holding Ether. This trust aims to mirror the performance of the Fidelity Ethereum Index, factoring in expenses and liabilities. Notably, BlackRock has entered the Ethereum ETF arena by registering a spot ETF for ETH in Delaware under the name “iShares Ethereum Trust.” This move signals BlackRocks expansion beyond Bitcoin, reinforcing its commitment to explore opportunities in the Ethereum market. Fidelity Digital Assets Services is set to act as the regulated custodian for the ETH holdings within the proposed trust. The filing emphasizes the significant size of the CME Ether futures market, asserting its suitability for surveillance-sharing to meet SEC listing standards and prevent fraud and manipulation. Its worth noting that the SEC currently has several Ethereum ETF applications under review, including submissions from major financial players such as ARK Invest, VanEck, Hashdex, Invesco, and Galaxy Digital Holdings. While the SEC has yet to