Fidelity Joins Race for Spot Ethereum Exchange-Traded Fund, ETH ETF Would Be Major Win for US Investors: SEC Filing - The Daily Hodl
Financial services giant Fidelity is joining the roster of companies seeking to offer US investors a spot market Ethereum (ETH) exchange-traded fund (ETF). ...
- Fidelity, a financial services giant, is seeking to offer a spot market Ethereum exchange-traded fund (ETF) for US investors.
- The company has filed with the SEC to list and trade shares of the Fidelity Ethereum Fund.
- The fund's assets will consist of ETH held by a custodian, with no intention to hold cash or cash equivalents.
- The absence of a regulated ETH ETF exposes investors to counterparty risks, legal uncertainty, and complexities.
- Approval of a spot ETH ETF would be a significant win for protecting US investors in the crypto asset space.
- Other companies, including BlackRock and Hashdex, are also awaiting regulatory approval for a spot market Ethereum ETF.
The sentiment of the article is generally positive, highlighting the potential benefits of a spot market Ethereum ETF for US investors and the efforts of Fidelity and other companies in seeking regulatory approval.