Fidelity files for spot Ethereum ETF, says approval would be 'major win' for US investors

Companies • November 17, 2023, 5:53PM EST
Published 1 minute earlier on
The Block

Quick Take

  • Fidelity has filed for a spot ether ETF, following its spot bitcoin ETF application.

Asset management giant Fidelity has filed for a spot ether ETF, in the footsteps of its spot bitcoin ETF application.

"To this point, approval of a Spot ETH ETP would represent a major win for the protection of U.S. investors in the crypto asset space," the filing states, claiming that investors are facing significant risk without such products as they seek alternative, riskier ways to get exposure.

The filing noted the recent Grayscale court ruling where the court said the SEC had failed to find a coherent reason why it should reject spot crypto ETFs when it had allowed futures-based products.

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In June, Fidelity filed for a spot bitcoin ETF, shortly after BlackRock entered the race. The Block broke the news ahead of the filing.


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Tim is the Editor-In-Chief of The Block. Prior to joining The Block, Tim was a news editor at Decrypt. He has earned a bachelor's degree in philosophy from the University of York and studied news journalism at Press Association Training. Follow him on X @Timccopeland.

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