The U.S. Securities and Exchange Commission (SEC) has recently announced a call for public input on Fidelity Investments’ proposal to launch a spot Ether exchange-traded fund (ETF). This request for comments, initiated on November 30, represents a crucial step toward potentially introducing a crypto-based ETF in the American financial market. The SEC has set a 21-day comment period following the notice’s publication in the Federal Register, inviting opinions from all interested parties.
Fidelity’s Bold Move in the Crypto Space
Fidelity’s application, submitted on November 17, puts the firm at the forefront of efforts to establish a spot cryptocurrency ETF in the United States. The proposed Fidelity Ethereum Fund would be listed on the Cboe BZX Exchange if approved. Unlike several European countries, fidelity attempts to bridge the gap in the U.S. market, which currently lacks a regulated, exchange-traded product for Ether.
The approval of Fidelity’s Ether ETF would offer a regulated investment channel for American investors and mark a substantial step toward the mainstream acceptance of cryptocurrencies. As the market awaits the SEC’s decision, the outcome is expected to have far-reaching effects on the future of cryptocurrency investments in the U.S.
Also Read: Fidelity Amends Bitcoin ETF Filing