The post The Race Is On: Fidelity Investments Just Filed For An Ethereum Spot ETF appeared on BitcoinEthereumNews.com.

The cryptocurrency market has been experiencing a major surge in interest surrounding Ethereum Spot ETFs and Fidelity Investments has joined the race with its newest filing.  Fidelity Investments File For ETH Spot ETF American multinational financial service corporation, Fidelity Investments has decided to get actively involved in the ongoing Ethereum ETF mania. The mutual funds company has officially filed for an Ethereum Spot Exchange Traded Funds (ETF) to the United States Securities and Exchange Commission (SEC).  The new Ethereum ETF filing is the second ETF the investment company has submitted to the US SEC. Previously, Fidelity Investment filed for a Spot Bitcoin ETF which is presently still awaiting approval by the SEC.  Fidelity Investment’s Ethereum ETF filing which was submitted on Friday relayed several distinct details to the US SEC. The financial service company outlined the framework of the listing and trading of Trust shares on the exchange.  According to the filing, the Trust backed by Fidelity Investment distinguishes itself from being recognized as an investment company under the investment company laws. Additionally, the filing clarifies that the Trust should not be deemed a commodity pool as defined by the Commodities laws.  The need for regulatory clarity in the filing hinges on the present legal situations between the US SEC and several crypto exchanges and financial organizations in the industry.  “The Exchange proposes to list and trade the Shares of the Fidelity Ethereum Fund under BZX Rule 14.11(e)(4), which governs the listing and trading of Commodity-Based Trust Shares on the Exchange,” the filing stated.  It also added:“According to the Registration Statement, the Trust is neither an investment company registered under the Investment Company Act of 1940, as amended,’ nor a commodity pool for purposes of the Commodity Exchange Act (“CEA”), and neither the Trust nor the Sponsor is subject to…

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Filed under: News - @ November 18, 2023 4:10 pm