Fidelity Files Amendment To Ethereum Spot ETF Registration Statement

IconCryptoNewsTerminal Staff08 Jul, 2024

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Fidelity Files Amendment To Ethereum Spot ETF Registration Statement

Fidelity Investments has filed an amendment to its registration statement for a spot Ethereum exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The move comes after the SEC delayed its decision on whether to approve the ETF in December 2022. The amendment includes additional information on the fund's investment strategy, risk factors, and market conditions. Fidelity also added a new co-manager to the fund, Thomas Sallee, who has over 20 years of experience in the ETF industry. The SEC has 45 days to review the amendment and make a decision on whether to approve the ETF. If approved, the Fidelity Ethereum Spot ETF would be the first spot Ethereum ETF to be listed in the United States. Spot ETFs provide investors with a way to gain exposure to the underlying asset without having to purchase and store the asset themselves. This makes them a more convenient and accessible way to invest in cryptocurrencies.

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