Ethereum

Spot

James

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/fidelity-investments-updates-spot-ethereum-etf-application/" data-wpel-link="internal">Fidelity Investments Updates Spot Ethereum ETF Application</a> 
One of the world’s largest investment companies, Fidelity Investments, updated its spot Ethereum ETF application to the U.S. Securities and Exchange Commission (SEC). This update specified that the ETH held in the fund cannot be staked in any way. This change was made after the SEC requested exchanges to quickly update their 19B-4 filings for spot Ethereum ETFs on May 20. 
<h2 style="text-align: justify" id="strong-approval-probability-increased-from-5-to-75-strong">Approval Probability Increased from 5% to 75%</h2> 
The SEC’s request caused significant activity in the markets. Bloomberg analysts Eric Balchunas and James Seyffart increased the probability of spot Ethereum ETF approval from 5% to 75%. This development increased investor interest in Ethereum and the overall <a href="https://en.coin-turk.com/recent-developments-in-cryptocurrencies/" data-wpel-link="internal">cryptocurrency market</a>, creating a positive atmosphere in the markets. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-353227" src="https://coin-turk.com/wp-content/uploads/2024/05/ETH-ETF-23-24-Mayis.jpg" alt="" width="904" height="286"> 
The SEC will announce its decision on VacEck’s spot Ethereum ETF on May 23. Experts indicate that the SEC is likely to continue its recent policy of collective decision-making and may issue a collective decision for other pending Ethereum ETF <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener" data-wpel-link="exclude">applications</a> as well. 
The potential approval of the U.S. regulator’s expected decision has created significant anticipation in the cryptocurrency market and has triggered a strong rise in the prices of many cryptocurrencies, especially ETH. 
<h2 style="text-align: justify" id="strong-eth-in-the-fund-cannot-be-staked-strong">ETH in the Fund Cannot Be Staked</h2> 
Fidelity Investments’ update to its ETF application aims to address <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>‘ concerns about staking the assets within the fund. As is known, the staking process involves locking up cryptocurrencies for a certain period to earn returns, which can be risky for some investors and is not particularly favored by the SEC. Therefore, the guarantee that the ETH held in the fund cannot be staked seems to be made to gain SEC approval and to encourage more investors to invest in the ETF with confidence. 
These developments are expected to have significant impacts on the future price movements of Ethereum’s main network asset ETH and the overall <a>market performance</a>. The SEC’s ETF decision has the potential to regulate the cryptocurrency market and increase institutional investors’ interest in this market. If spot Ethereum ETF applications are approved, this could accelerate the adoption and value appreciation of ETH and other cryptocurrencies. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/fidelity-investments-updates-spot-ethereum-etf-application/" data-wpel-link="internal">Fidelity Investments Updates Spot Ethereum ETF Application</a></h5>

Fidelity Investments Updates Spot Ethereum ETF Application

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