In the competition for an Ethereum ETF, Fidelity has teamed up with BlackRock
Claude Pascal
12 Dec 2023
Fidelity Investments files for regulatory approval to launch an Ethereum ETF, aiming to provide a safer way for mainstream investors to gain exposure to digital assets.
Fidelity Investments, a financial services company managing over $11 trillion in customer assets, has filed for regulatory approval to launch an exchange-traded fund (ETF) that would hold Ethereum cryptocurrency. The proposed Fidelity Ethereum Fund would track the price of Ethereum and trade on the Cboe BZX Exchange under the ticker symbol ETHF.
Fidelity has been growing its cryptocurrency business since 2018 and aims to provide a safer way for mainstream investors to gain exposure to digital assets.
The SEC has faced mounting pressure to approve a spot bitcoin ETF, and it remains unclear if the ether futures market is mature enough to meet regulatory standards.