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BlockNews
Home BREAKING NEWS

Fidelity’s Ether ETF Filing Signals Institution Shift Towards Ethereum

BlockNews.com Team by BlockNews.com Team
November 18, 2023
in BREAKING NEWS, BUSINESS, CRYPTO, FEATURED, INVESTING
Reading Time: 2 mins read
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  • Fidelity filed for a spot Ethereum ETF, arguing SEC approval would be a major win for protecting US crypto investors
  • Fidelity pointed to the recent Grayscale ruling, where the court said the SEC failed to coherently reject spot crypto ETFs after allowing futures products
  • Fidelity claims a spot Ether ETF would expand regulated crypto access for investors, who currently face risks seeking alternative exposure methods

Fidelity has filed for a spot ether ETF following its spot bitcoin ETF application, claiming that approval would be a major win for protecting US investors in the crypto space. The asset management giant argues investors face significant risks without such products as they seek riskier alternative exposure methods.

Fidelity’s Reasoning

In its filing, Fidelity noted the recent Grayscale court ruling, where the court said the SEC had failed to find a coherent reason for rejecting spot crypto ETFs when it had allowed futures-based products. Fidelity filed for a spot bitcoin ETF in June, shortly after BlackRock entered the race.

🚨 NEWS: Fidelity has filed for a Spot Ether ETF.

This builds upon its current Spot #Bitcoin ETF application.

This is huge for $ETH 👀 pic.twitter.com/Yz1kfzg7Nj

— BlockNews.com (@blocknewsdotcom) November 17, 2023

Potential Impact

Fidelity argues that approval of a spot ETH ETP would represent a major win for US investors seeking crypto exposure. The firm claims investors face heightened risks without access to such products. If approved, a spot Ether ETF from Fidelity could significantly expand access to crypto investment vehicles.

Conclusion

With its latest filing, Fidelity continues pushing for the SEC to approve spot crypto ETFs. The asset manager argues investors need simple, regulated access to crypto assets. Approval would mark a major shift in the SEC’s stringent stance on crypto ETFs to date.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Bitcoin ETFBusinesscryptoFidelity
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BlockNews.com Team

The go-to news source for Cryptocurrency, Blockchain, Technology, & Finance

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