The US Securities and Exchange Commission (SEC) has opened up the opportunity for the public to provide comments on Fidelity’s application for a spot Ethereum exchange-traded fund (ETF). This move by the SEC allows individuals to share their insights on the proposed rule change that would enable Fidelity to introduce shares of its spot Ether ETF. Interested parties have been invited to submit written data, views, and arguments on whether the proposed rule change aligns with the Act. The SEC has provided a 21-day window for individuals to express their opinions on the matter.Fidelity made its intentions clear by filing for approval of the fund on November 17. This puts Fidelity in the company of other firms seeking to establish a spot crypto ETF in the United States. The application outlines a rule change that, if approved, would allow Fidelity to list and trade shares of the Fidelity Ethereum Fund. The primary objective of the fund is to track the performance of Ether, taking into account deductions for expenses and other liabilities.The filing highlights a discrepancy between the United States and other countries such as Germany, Switzerland, and France, where investors already have access to Ether through exchange-traded products. The absence of a regulated and exchange-traded vehicle in the US leaves American investors with limited and riskier alternatives for obtaining Ether exposure. This lack of an ETP that holds spot ETH exposes US investor assets to significant risk.While the SEC has not approved any spot cryptocurrency exchange-traded product or fund for US markets in the past, there is speculation that the regulator may be nearing a decision on approving a spot crypto ETF for listing on US markets. Such approval could be a significant milestone in promoting mainstream crypto adoption, which is eagerly awaited by many in the industry.
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 | positive |
| Relevance Score | 1 |
| People | None |
| Companies | Fidelity, SEC |
| Currencies | Ethereum |
| Securities | None |
