Fidelity Updates S-1 Form for Ethereum ETF Launch
The race for the approval of an Ethereum (ETH) spot exchange-traded fund (ETF) in the United States is heating up as asset management firm Fidelity makes further amendments to its application. In a recent filing with the Securities and Exchange Commission (SEC), Fidelity revealed that it had purchased 125,000 shares to seed the funds’ basket with $4.7 million and acquired 1,250 Ether tokens.
Interestingly, Fidelity confirmed that it will not participate in Ethereum staking to earn additional ether or seek other means of generating income from its ether holdings. This move sets Fidelity apart from other ETF issuers who have disclosed their fees in their applications.
Analysts are doubling down on their predictions for the launch date of the Ethereum spot ETFs, with Bloomberg expert Eric Balchunas maintaining July 2, 2024, as the expected date for trading to begin. Following the latest round of S-1 amendments, the SEC will now have to make a decision on final approval, putting the ball in their court.
With the anticipation building up for the launch of the Ethereum spot ETFs, the cryptocurrency market is closely watching for any developments that could impact the trading of ETH in the United States. Stay tuned for more updates on this evolving story.