Asset Manager Fidelity Files for Spot Ether ETF

TL;DR

• Fidelity has filed for a spot Ethereum ETF.

• The asset management giant previously filed for a spot Bitcoin ETF.

Fidelity Files For A Spot Ethereum ETF

Asset management giant Fidelity has filed for a spot ether exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC). 

This latest development comes months after the asset management firm filed for a spot Bitcoin ETF. In its filing, Fidelity wrote,

"To this point, approval of a Spot ETH ETP would represent a major win for the protection of U.S. investors in the crypto asset space." 

Fidelity added that investors are facing significant risk without such products as they seek alternative, riskier ways to get exposure.

Furthermore, CBOE proposes to list and trade the Shares of the Fidelity Ethereum Fund under BZX Rule 14.11(e)(4),5 which governs the listing and trading of Commodity-Based Trust Shares on the Exchange.

The asset manager explained that Fidelity Digital Assets Services, LLC (“FDAS”), a regulated custodian licensed by the New York Department of Financial Services (the “Custodian”), will be responsible for the custody of the Trust’s Ether (“ETH”). Meanwhile, Delaware Trust Company is the trustee (“Trustee”). 

In June, the asset manager filed for a spot bitcoin ETF, shortly after BlackRock entered the race.