Fidelity Is 7th On The List<\/strong><\/h2>\nFidelity Investments has recently positioned itself as the seventh asset management in the United States to pursue the aforementioned product.<\/p>\n
Based on the SEC’s Form 19b-4 filing, the Fidelity Ethereum ETF is called the “Fidelity Ethereum Fund” and is designed to track the performance of Ethereum. If approved, the ETF will trade in accordance with the BZX Rule, the company disclosed.<\/p>\n
\nUpdate: @Fidelity<\/a> joins the spot #ethereum<\/a> ETF race by filing a 19b-4 with @CBOE<\/a> https:\/\/t.co\/rxNEzpzh3g<\/a> pic.twitter.com\/o96XspPDEP<\/a><\/p>\n\u2014 James Seyffart (@JSeyff) November 17, 2023<\/a><\/p><\/blockquote>\nRelated Reading: Options Frenzy: Bitcoin Rally To $37,000 Sparks Explosive Open Interest Surge<\/a><\/div>\nEach share shall reflect a portion of the undivided beneficial interest in the net assets of the Fidelity ETH Fund, the Registration Statement shows. ETH held by the New York Department of Financial Services on behalf of the Fidelity Ethereum Fund will make up the Trust’s assets.<\/p>\n
The Importance Of Spot ETFs<\/strong><\/h2>\nSpot ETFs play a pivotal role in significantly expanding the reach of cryptocurrencies to the average investor, aligning with the increasingly emphasized goal of asset managers such as BlackRock, Grayscale, and other industry players.<\/p>\n
Despite the concerted efforts of regulatory bodies like the SEC to counteract this trend, the push for democratizing access to crypto investments has remained steadfast.<\/p>\n
![](\"https:\/\/www.tradingview.com\/x\/nWwybnMs\/\")
<\/p>\n
ETH market cap currently at $232 billion on the weekly chart: TradingView.com<\/a><\/pre>\nAt the forefront of the crypto market, Bitcoin and Ethereum stand as two of the most prominent digital assets, commanding substantial trade volumes and market values.<\/p>\n
Drawing a parallel with Bitcoin, Ethereum stands poised for a potentially significant surge in value within the next 24 hours, driven by the announcement of Fidelity’s application, marking a development that could significantly impact the cryptocurrency landscape.<\/p>\n
ETH Up 6.2% In The Weekly Chart<\/strong><\/h3>\nAt the time of writing, ETH was trading at $$1,930<\/a>, up 2.3% in the last 24 hours, and sustaining a decent 6.2% increase in the last seven days, data from Coingecko shows.<\/p>\nMeanwhile, citing a section of the court ruling in the legal battle between Grayscale and the SEC, Fidelity Investments is optimistic<\/a>\u00a0that it will receive permission.<\/p>\n\nUpdate: @Fidelity<\/a> joins the spot #ethereum<\/a> ETF race by filing a 19b-4 with @CBOE<\/a> https:\/\/t.co\/rxNEzpzh3g<\/a> pic.twitter.com\/o96XspPDEP<\/a><\/p>\n
Update: @Fidelity<\/a> joins the spot #ethereum<\/a> ETF race by filing a 19b-4 with @CBOE<\/a> https:\/\/t.co\/rxNEzpzh3g<\/a> pic.twitter.com\/o96XspPDEP<\/a><\/p>\n \u2014 James Seyffart (@JSeyff) November 17, 2023<\/a><\/p><\/blockquote>\n Each share shall reflect a portion of the undivided beneficial interest in the net assets of the Fidelity ETH Fund, the Registration Statement shows. ETH held by the New York Department of Financial Services on behalf of the Fidelity Ethereum Fund will make up the Trust’s assets.<\/p>\n Spot ETFs play a pivotal role in significantly expanding the reach of cryptocurrencies to the average investor, aligning with the increasingly emphasized goal of asset managers such as BlackRock, Grayscale, and other industry players.<\/p>\n Despite the concerted efforts of regulatory bodies like the SEC to counteract this trend, the push for democratizing access to crypto investments has remained steadfast.<\/p>\n At the forefront of the crypto market, Bitcoin and Ethereum stand as two of the most prominent digital assets, commanding substantial trade volumes and market values.<\/p>\n Drawing a parallel with Bitcoin, Ethereum stands poised for a potentially significant surge in value within the next 24 hours, driven by the announcement of Fidelity’s application, marking a development that could significantly impact the cryptocurrency landscape.<\/p>\n At the time of writing, ETH was trading at $$1,930<\/a>, up 2.3% in the last 24 hours, and sustaining a decent 6.2% increase in the last seven days, data from Coingecko shows.<\/p>\n Meanwhile, citing a section of the court ruling in the legal battle between Grayscale and the SEC, Fidelity Investments is optimistic<\/a>\u00a0that it will receive permission.<\/p>\n Update: @Fidelity<\/a> joins the spot #ethereum<\/a> ETF race by filing a 19b-4 with @CBOE<\/a> https:\/\/t.co\/rxNEzpzh3g<\/a> pic.twitter.com\/o96XspPDEP<\/a><\/p>\nThe Importance Of Spot ETFs<\/strong><\/h2>\n
<\/p>\n
ETH market cap currently at $232 billion on the weekly chart: TradingView.com<\/a><\/pre>\n
ETH Up 6.2% In The Weekly Chart<\/strong><\/h3>\n
\n