Spot Ethereum ETF Race Sees Fidelity’s Entry, SEC Filing Suggests Potential Triumph for US Investors
Fidelity, a leading financial services giant, is set to join the ranks of companies vying to introduce a spot market Ethereum (ETH) exchange-traded fund (ETF) for US investors.
As per a recent filing with the U.S. Securities and Exchange Commission (SEC), Fidelity aims to list and trade shares of the Fidelity Ethereum Fund. The filing emphasizes the need for a regulated ETH exchange-traded product. Citing current exposure methods that leave investors vulnerable to counterparty risks, legal uncertainties, and other complexities.
Approval of such a Spot ETH ETP is seen as a significant protective measure for U.S. investors in the cryptocurrency space. Fidelity’s move aligns with other industry players like BlackRock and Hashdex. Who are also awaiting regulatory approval for their spot market Ethereum ETFs.
Clever Robot News Desk 20th November 2023