Fidelity Files Application to Launch a Spot Ethereum ETF
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Financial services firm Fidelity Investments has recently filed with the US Securities and Exchange Commission (SEC) an application to launch an exchange-traded fund (ETF) based on the spot price of Ethereum.

The company has made the decision shortly after competitor BlackRock filed a similar application.

According to the document, the shares of the instrument, the Fidelity Ethereum Fund, are expected to be traded on the Cboe BZX exchange, while the custodian of the fund's assets will be Fidelity Digital Assets Services.

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Fidelity has said the approval of the ETF "would represent a major win for the protection of US investors in the crypto asset space."

According to Fidelity, because no Ethereum ETF has yet been approved, users who want to invest in cryptocurrencies are forced to turn to methods that carry higher risk, such as over-the-counter funds.

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