Fidelity Follows BlackRock, Files For Spot Ethereum ETF - Where Next for Ether (ETH)?
Asset management giant Fidelity just filed a 19b-4 with the Chicago Board Options Exchange (CBOE) to set up a spot Ethereum exchange-traded fund (ETF)...
- Fidelity and BlackRock have filed to set up spot Ethereum exchange-traded funds (ETFs).
- Major asset managers are betting on the future of cryptocurrencies and quick approval for these investment vehicles.
- Fidelity manages over $4.5 trillion and BlackRock manages over $8 trillion in investor funds.
- Ether (ETH) has seen a 4% dip this week but is still up 28% from October lows.
- ETH has been supported by optimism about spot Bitcoin ETFs and an improvement in the macro backdrop.
- Despite recent on-chain activity and bullish chart analysis, ETH's performance has been weaker compared to Bitcoin.
- The outlook for the broader market and narratives around spot ETFs, macro backdrop, and Ether deflation could support ETH in the coming months.
The sentiment of the article is generally positive, highlighting the potential growth and support for Ethereum and its ETFs.