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Just days after BlackRock filed for the iShares Ethereum Trust, asset management firm Fidelity has submitted an application for its own Ethereum exchange-traded fund (ETF).
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Fidelity, an asset management firm overseeing $4.5 trillion in assets, has become the latest firm to seek approval for a spot Ethereum (ETH) exchange-traded fund (ETF).
In a filing submitted to the United States Securities and Exchange Commission (SEC) on November 17, Fidelity proposes to list and trade shares of the Fidelity Ethereum Fund on the Cboe BZX Exchange.
“According to the Registration Statement, each Share will represent a fractional undivided beneficial interest in the Trust’s net assets. The Trust’s assets will consist of ETH held by the Custodian on behalf of the Trust.”
Related: BlackRock argues SEC has no grounds to treat crypto futures and spot ETFs differently
Update: @Fidelity joins the spot #ethereum ETF race by filing a 19b-4 with @CBOE https://t.co/rxNEzpzh3g pic.twitter.com/o96XspPDEP
— James Seyffart (@JSeyff) November 17, 2023
This comes after recent news that BlackRock officially filed for a spot Ether ETF, the iShares Ethereum Trust, with the SEC on Nov. 16.
BlackRock’s filing comes nearly a week after it registered the iShares Ethereum Trust with Delaware’s Division of Corporations and almost six months after it filed its spot Bitcoin ETF application.
This is a developing story, and further information will be added as it becomes available.
This article first appeared at Cointelegraph.com News
