Ethereum

Bitcoin ETF

James

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<p>The U.S. Securities and Exchange Commission (SEC) has officially <a href="https://twitter.com/PhoenixTrades_/status/1730248311976640894" rel="noopener noreferrer nofollow">acknowledged</a> Fidelity Investments' filing for a spot Ethereum exchange-traded fund (ETF). This follows Fidelity's application on Nov. 17.&nbsp;</p>
<p>The filing kicks off a public comment period, during which interested parties can voice their views on the viability of such a product. The SEC is supposed to announce its decision after 240 days. &nbsp;&nbsp;</p>
<h2 id="fidelity-s-ethereum-gambit">Fidelity's Ethereum gambit&nbsp;</h2>
<p>Earlier this month Fidelity Investments filed for a spot Ethereum ETF, extending its crypto investment offerings beyond its earlier Bitcoin ETF application.&nbsp;</p>
<p>The application stressed the importance of such a product for U.S. investors, suggesting that a regulated <a href="https://u.today/spot-ethereum-etf-proposal-delayed-by-sec" rel="noopener noreferrer nofollow">Ethereum ETF</a> would provide safer investment options compared to the current alternatives.&nbsp;</p>
<p>This move gained further relevance against the backdrop of a recent court ruling questioning the SEC’s stance on rejecting spot crypto ETFs while allowing futures-based ETFs.</p>
<h2 id="high-approval-odds">High approval odds&nbsp;</h2>
<p>Analysts <a href="https://u.today/ethereum-etf-heres-why-next-week-might-be-crucial" rel="noopener noreferrer nofollow">James Seyffart</a> and Eric Balchunas have expressed optimism about the approval odds for Ethereum ETFs, citing a recent surge in similar applications and the SEC's evolving approach to crypto-based financial products.&nbsp;</p>
<p>They estimate a 75% chance of Ethereum futures ETFs being approved, particularly in light of the SEC's prior approval of Bitcoin futures ETFs.&nbsp;</p>
<p>However, the market's response to existing Ethereum futures ETFs, which debuted in early October, was <a href="https://u.today/flop-alert-ethereum-etfs-debut-with-shockingly-low-volumes" rel="noopener noreferrer nofollow">underwhelming</a>. These ETFs recorded a total trading volume of around $1.7 million in their initial hours, a sharp contrast to the successful launch of the first futures-based Bitcoin ETFs.&nbsp;</p>

Ethereum ETF: SEC Kicks Off Clock for Fidelity

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