SEC Seeks Public Feedback on Fidelity’s Application for Ethereum ETF Proposal
Fidelity Investments’ proposal to introduce a spot Ether exchange-traded fund (ETF) has prompted the U.S. Securities and Exchange Commission (SEC) to solicit public feedback. A significant step toward perhaps launching a cryptocurrency-based exchange-traded fund (ETF) in the US financial market is this request for comments, which was launched on November 30. The notice will be published in the Federal Register, and all interested parties are invited to submit comments during the 21-day comment period that the SEC has designated.
With the submission of its application on November 17, Fidelity positions itself as a leader in the US market for spot bitcoin exchange-traded funds. Should it be accepted, the Fidelity Ethereum Fund would be listed on the Cboe BZX Exchange. In contrast to a number of European nations, fidelity aims to close the gap in the American market, which at the moment does not have an exchange-traded, regulated Ether product.
The introduction of Fidelity’s Ether ETF would provide American investors with a regulated investment avenue and be a significant step toward the mainstreaming of cryptocurrencies. The verdict is anticipated to have a significant impact on the future of cryptocurrency investments in the United States, as the market awaits the SEC’s ruling.
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