Fidelity Wants to Create an Ether ETF, Joining BlackRock in Doubling Down on Crypto
Both Fidelity and BlackRock want to list both BTC and ETH ETFs...
- Fidelity is planning to create an exchange-traded fund (ETF) that owns Ethereum's ether (ETH), following BlackRock's move to strengthen its crypto embrace.
- The Fidelity Ethereum Fund would be listed by an exchange owned by Cboe Global Markets, pending approval from the U.S. Securities and Exchange Commission (SEC).
- Fidelity and BlackRock also aim to create ETFs that provide easier access to bitcoin (BTC).
- ETFs holding BTC or ETH could potentially disrupt the crypto market by attracting new investment money through the accessibility and reputation of firms like Fidelity and BlackRock.
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The sentiment of the article is generally positive, as it discusses the potential benefits of Fidelity and BlackRock's plans to create ETFs for Ethereum and Bitcoin.
You May Ask
What is Fidelity seeking to create according to the filing?Which exchange would list the Fidelity Ethereum Fund?What is the role of the U.S. Securities and Exchange Commission in approving the proposed ETFs?What are the potential advantages of ETFs holding BTC or ETH?Which two major investment firms are involved in these plans?