Is Fidelity Leading the Way to the First Spot Ethereum ETF?
Could Ethereum ETFs Start Trading by July?
Financial services giant Fidelity Investments has updated its S-1 registration form for a spot Ethereum ETF. This filing, submitted to the US Securities and Exchange Commission (SEC), has increased anticipation for the approval and trading of spot Ethereum ETFs.
Details of the Updated S-1 Filing
Fidelity Investments' latest filing is under scrutiny by market analysts and investors. The update did not include details on sponsor fees, a trend also seen in recent filings by Bitwise and BlackRock. However, Franklin Templeton set its sponsor fee at 19 basis points (bps).
Is Spot Ethereum ETF Trading Imminent?
There is growing speculation that approval for spot Ethereum ETFs is near. Bloomberg’s Senior ETF Analyst, Eric Balchunas, highlighted the absence of sponsor fees in Fidelity’s filing. This might indicate a coordinated approach among issuers, with many likely waiting until the final day of S-1 updates to disclose fees.
Expected Timeline for Approval
The crypto community expects spot Ethereum ETF trading to start soon, possibly in the first week of July. Developments such as the resolution of the ConsenSys vs. SEC investigation have increased optimism that approval could come within the next three weeks, potentially before July 2.
As Fidelity Investments updates its S-1 registration for a spot Ethereum ETF, the financial world is closely monitoring the SEC’s next moves. With high hopes for an imminent approval, the coming weeks are poised to be pivotal for the future of spot Ethereum ETF trading.
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