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