Fidelity Investments has filed for a spot Ethereum exchange-traded fund (ETF), following in the footsteps of its main competitor, BlackRock. The filing with the Securities and Exchange Commission (SEC) outlines Fidelity’s plan to list and trade shares of the proposed fund on Cboe BZX. This move comes after Fidelity submitted a similar proposal for a spot Bitcoin ETF in June. The close timing between Fidelity and BlackRock’s filings can be attributed to their high standing in the asset management industry. BlackRock, the largest asset manager globally, submitted its spot Ethereum ETF filing just two days before Fidelity. Both companies are vying for a spot in the growing crypto investing market in the United States. Several other asset managers have also applied for their own spot Bitcoin and Ethereum ETFs, and the SEC is expected to make a decision on a Bitcoin ETF by January 10, 2024. If approved, it could pave the way for the approval of other similar funds. It’s worth noting that while the SEC has not yet approved any spot Bitcoin or Ethereum ETFs, it has approved futures ETFs for both cryptocurrencies in recent years.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | Cboe BZX, ARK Invest, BlackRock, Fidelity Investments |
| Currencies | Bitcoin, Ethereum, Tether |
| Securities | None |
