Ethereum

Spot

<ul>
 <li>Fidelity hinted that they were planning to include staking capabilities to its ETH ETF.</li>
 <li>A Spot Ethereum ETF application was filed by the firm using an S-1 form.</li>
</ul>
A major participant in the asset management industry, Fidelity Investments oversees $4.5 trillion in assets and has just taken a bold decision. A Spot Ethereum Exchange-Traded Fund (ETF) application was filed by the firm with the US SEC using an S-1 form. In their Wednesday filing, <a href="https://thenewscrypto.com/fidelitys-bitcoin-etf-second-to-surpass-1b-aum-in-one-week/" target="_blank" rel="noopener noreferrer nofollow">Fidelity</a> hinted that they were planning to include staking capabilities to its Fidelity Ethereum Fund.
This follows earlier this year’s landmark approval of the first Spot Bitcoin ETF in the United States by the <a href="https://thenewscrypto.com/sec-seeks-1-95b-settlement-from-ripple-in-proposed-final-judgment/" target="_blank" rel="noopener noreferrer nofollow">SEC</a>. The emergence of digital asset investment products was highlighted when Fidelity was one of the first eleven issuers to get approval for a Spot Bitcoin ETF. As the value of <a href="http://bitcoin.org" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> reached a new peak in March 2024, approval became a key component in the development of the cryptocurrency.
<h3 class="wp-block-heading" id="h-industry-optimistic-over-approval">Industry Optimistic Over Approval</h3>
Moreover, a lot of people are curious about the next cryptocurrency that will be handled the same way after seeing how Spot Bitcoin ETFs have done. Also, <a href="http://Ethereum.org" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>, the second most valuable cryptocurrency by market value, quickly rose to the position of frontrunner. In their most recent filing, Fidelity reveals their strong desire to expand its digital asset offerings, including a Spot Ethereum ETF.
Furthermore, as the SEC continues to evaluate Ethereum’s security classification, the prospect of an Ethereum Spot ETF has been speculated about and met with skepticism. Despite these setbacks, industry insiders like GrayScale’s chief legal officer Craig Salm remain optimistic about potential future approvals. The CLO made a passing reference to the prior approval of the Spot Bitcoin ETF, suggesting a less complicated procedure for Ethereum ETF proposals.
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Fidelity Files S-1 Form for Spot Ethereum ETF With the U.S SEC

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