Ethereum

New Era

Million

Bold

<ul>
 <li>Fidelity invested $4.7 million in a spot Ethereum ETF, with FMR Capital purchasing 125,000 shares at nearly $38 each on June 4.</li>
 <li>The amended filing did not include fee details, suggesting issuers are waiting for BlackRock’s disclosure before revealing their own.</li>
 <li>The SEC approved 19b-4 forms for eight Ethereum ETFs, with trading anticipated around July 2 pending S-1 statement activation.</li>
</ul>
<p><a href="https://www.fidelity.com/" target="_blank" rel="noopener noreferrer nofollow">Fidelity</a> has made a significant investment, disclosed in an amended SEC filing, revealing a $4.7 million stake in an Ethereum spot ETF. This strategic decision demonstrates Fidelity’s ambitions for the future of the cryptocurrency market.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> Exciting update! Fidelity, through its affiliate FMR Capital, Inc., has invested $4.7 million in a seed round for an Ethereum ETF. This move underscores Fidelity's bullish stance on crypto and their commitment to expanding investment opportunities in digital assets. Details… <a href="https://t.co/eUhOtuGLG9" rel="noopener noreferrer nofollow">pic.twitter.com/eUhOtuGLG9</a></p>— Meme Mafia (@mememafiaaa) <a href="https://twitter.com/mememafiaaa/status/1804363192946298952?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 22, 2024</a>
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<p><a href="https://www.fidelity.com/myfidelity/InsideFidelity/NewsCenter/quickFacts/FMRCO.html" target="_blank" rel="noopener noreferrer nofollow">FMR Capital</a>, an affiliate of Fidelity, made the initial investment in late May, purchasing a single share for $40. FMR Capital bought an extra 125,000 shares on June 4 for about $38 each.&nbsp;</p>
<p>The Trust was able to acquire 1,250 ether on the same day through this transaction, which totaled $4,749,975. These acquisitions <a href="https://cryptonewsland.com/fidelity-positions-for-crypto-dominance-with-upcoming-bitcoin-etf-application/" target="_blank" rel="noopener noreferrer nofollow">demonstrate Fidelity’s faith in Ethereum</a> and the cryptocurrency market as a whole.</p>
<p>The amended filing did not include any additional details about fees. Senior ETF Analyst at Bloomberg Eric Balchunas believes that issuers are probably holding off on making their own announcements until BlackRock releases its fee schedule.&nbsp;</p>
<p>The major financial players in the cryptocurrency ETF market are deliberately withholding fee information, which signals a competition strategy among the crypto companies</p>
<p><a href="https://cryptonewsland.com/bitwise-updates-ether-etf-filing-pantera-eyes-100m-investment/" target="_blank" rel="noopener noreferrer nofollow">Bitwise recently updated its registration</a> to reflect a $2.5 million seed investment and Pantera Capital’s potential $100 million share purchase. Furthermore, the SEC has approved 19b-4 forms for eight Ethereum ETFs, although trading is pending the activation of their S-1 statements. With SEC approval pending, Balchunas predicts more amended filings in the near future and suggests July 2nd as a potential launch date for Ethereum ETFs.</p>
<p>Fidelity has demonstrated its strong commitment to the cryptocurrency space with its $4.7 million investment in a spot Ethereum ETF. Industry experts are closely monitoring market developments and regulatory approvals as they occur. For investors and the financial sector as a whole, the possible early July launch of Ethereum ETFs could represent a major turning point in the financial sector.&nbsp;</p>
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<p>The post <a href="https://cryptonewsland.com/fidelitys-bold-4-7-million-ethereum-etf-investment-a-new-era-for-crypto-funds/" rel="noopener noreferrer nofollow">Fidelity’s Bold $4.7 Million Ethereum ETF Investment: A New Era for Crypto Funds</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Fidelity’s Bold $4.7 Million Ethereum ETF Investment: A New Era for Crypto Funds

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