BlackRock, a Wall Street asset management giant with assets under management (AUM) of US$9.5 trillion, confirmed on the 10th that it has applied to the U.S. Securities and Exchange Commission (SEC) to establish the Ethereum spot ETF "ishares Ethereum Trust."
Fidelity, another asset management giant, also officially submitted a 19b-4 document to the SEC yesterday (17th), seeking to establish an Ethereum spot ETF "Fidelity Ethereum Fund".
According to the document, the Fidelity Ethereum Spot ETF, stock code ETHF, will trade on Cboe BZX, a securities exchange owned by the Chicago Board Options Exchange (CBOE), and aims to “track the performance of major cryptocurrency exchanges through the Fidelity Ethereum Index. Ethereum spot price) to measure the performance of Ethereum."
Fidelity becomes the 7th institution to apply for the “Ethereum Spot ETF”
Bloomberg ETF analyst James Seyffart pointed out that Fidelity is the seventh company to submit an Ethereum spot ETF application. The other six companies that have previously applied to the SEC include: BlackRock, Grayscale, 21Shares/ARK, Invesco/ Galaxy, VanEck and Hashdex.
Extended reading: Current status of Ethereum spot ETF applications》6 institutions are knocking on the door, will BlackRock’s inclusion change the overall situation?
They are the 7th filer for spot Ethereum as far as I'm aware. Here are the first 6: pic.twitter.com/na6SXtKhF3
— James Seyffart (@JSeyff) November 17, 2023
Fidelity: No reason to list futures ETFs but reject spot products
Fidelity said that the approval of the Ethereum spot ETP would represent a major victory for U.S. investors to be protected in the field of crypto assets, and the agency also cited Grayscale’s successful ruling in August to persuade the SEC to approve its application in the filing:
“The judge determined that the SEC failed to find a consistent rationale as to why, while allowing a Bitcoin-based futures ETF, it should reject a spot ETF.”
The SEC has officially approved the listing of the first Ethereum futures ETF in the United States at the end of September, and 9 Ethereum-related futures ETFs have been officially launched on October 2.
Investors and institutions are looking forward to when Bitcoin and Ethereum spot ETFs will be released by the SEC. BlackRock also questioned the SEC last week, saying that the SEC has no legitimate reason to treat "spots" and "futures" differently. Cryptocurrency ETF application.
In terms of currency prices, after BlackRock officially joined the ranks of Ethereum spot ETF applications last week, the price of ETH was stimulated by this and broke through $2,100 in one fell swoop. After the news that Fidelity also entered the market today, ETH rose 3.3% to a maximum of $1,967.9. It fell back to $1,934.13 before the deadline, down 2.2% in the past 24 hours.
