Fidelity disclosed a $4.7 million seed investment in its amended SEC filing for a spot Ethereum ETF. FMR Capital, an affiliate of Fidelity, initially bought one share for $40 in late May. On June 4, FMR Capital acquired 125,000 shares at close to $38 each.
This purchase resulted in total proceeds of $4,749,975, which the Trust used to buy 1,250 ether on the same day.
Market Implications and Regulatory Updates
The filing noted the absence of fee details, which is consistent with other spot Ether ETF issuers. Bloomberg’s Senior ETF Analyst Eric Balchunas remarked that issuers are likely waiting for BlackRock’s fee disclosure before finalizing their own.Â
Bitwise updated its registration earlier this week, revealing a $2.5 million seed investment and Pantera Capital’s interest in buying up to $100 million in shares.
The SEC recently approved 19b-4 forms for eight Ethereum ETFs, but issuers still need their S-1 statements to become effective before trading can commence. Balchunas predicted that more amended S-1 filings are expected soon. He also indicated that the launch date for Ethereum ETFs might be around July 2nd, pending final SEC approval.
Also Read: Bitwise Updates S-1 for Ethereum ETF Following SEC Feedback
