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Fidelity Files Ethereum ETF S-1, Introducing Staking Features

Fidelity Files Ethereum ETF S-1, Introducing Staking Features

Fidelity introduced the Fidelity Ethereum Fund with staking by submitting an S-1 form to the SEC for a Spot Ethereum ETF.
Following the SEC’s approval of the first Spot Bitcoin ETF, Fidelity’s move to file an Ethereum ETF S-1 is a significant development, offering investors in digital assets more opportunities.
As Ethereum holds substantial value and remains a popular choice for investors, the possibility of an Ethereum ETF emerges.

With $4.5 trillion under management, Fidelity is a major participant in asset management. They have taken a risk. The business filed an S-1 form for a Spot Ethereum Exchange-Traded Fund (ETF) with the US Securities and Exchange Commission (SEC). This Wednesday-filed document reveals Fidelity’s intentions to introduce the Fidelity Ethereum Fund, which will have staking capabilities.

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Fidelity Leads with New Proposal for Ethereum ETF

The action comes after the SEC’s historic approval of the first Spot Bitcoin ETF in the United States earlier this year. A prime example of the emergence of digital asset investment products was Fidelity’s approval of a Spot Bitcoin ETF, one of the first 11 issuers. As the value of Bitcoin reached a record-breaking $73,000 in March 2024, approval became a crucial component of the cryptocurrency’s growth.

There is much interest in the next cryptocurrency that will be treated similarly because of the success of Spot Bitcoin ETFs. Ethereum, ranked second in market capitalization, emerged as a strong contender. According to Fidelity’s most recent filing, the company is actively working to extend its portfolio of digital assets. It has made significant efforts to bring a Spot Ethereum ETF to market.

Sector Leaders See Ethereum as the Next ETF

People have been waiting and doubting the viability of an Ethereum Spot ETF because of the SEC’s ongoing evaluation of Ethereum’s security. Despite these challenges, industry insiders—such as Craig Salm, the chief legal officer of GrayScale—are optimistic about upcoming approvals. Salim indicated a simpler process for Ethereum ETF applications by citing the previous instance in which the Spot Bitcoin ETF was approved.

The Fidelity Ethereum Fund proposal outlines the ETF’s intentions to issue shares that will trade on the Chicago Board Options Exchange (CBOE) in addition to its staking procedures. This is not Fidelity’s first attempt to test an Ethereum exchange-traded fund. These traders joined BlackRock, VanEck, and Ark Invest in November last year. BlackRock, VanEck, and Ark Invest also filed for a Spot Ethereum ETF. The current filing highlights Fidelity’s continued interest in cutting-edge investing products in the bitcoin industry.

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