Fidelity Files Request for Ethereum Spot ETF with SEC
Fidelity Investments, a financial services giant managing over $11 trillion in assets, has recently filed a request with the Securities and Exchange Commission (SEC) to launch a spot Ethereum ETF.
This initiative closely follows that of BlackRock, another major player in the industry, which has also filed a request for its ETH-based ETF, the iShares Ethereum Trust. This is not Fidelity’s first ETF request either. In June of this year, the giant made another request, but this time for a spot Bitcoin ETF.
If approved by the SEC, Fidelity’s new ETF will be listed under the symbol ETHF on the Chicago Board Options Exchange (CBOE).
Regulatory Challenges Ahead
The approval of this Ethereum Spot ETF by the SEC would be a significant milestone, offering US investors a regulated and more conventional means of accessing the Ethereum market.
The filing states that the approval of such a financial product “would be a major victory for the protection of American investors in the field of cryptographic assets.”
However, the ETF faces regulatory challenges similar to those encountered by Bitcoin Spot ETF filings, including the requirement for “surveillance sharing agreements” between the exchange where the ETF is listed and the spot market of the underlying asset.
The eagerly anticipated decision by the SEC could have a significant impact on the price of Ethereum (ETH) as well as the overall market dynamics.