🚀🎉 Hold onto your hats, BTC enthusiasts! Fidelity, the world's fourth-largest asset manager, is gearing up to launch its Ethereum ETF, and they're seeding it with a whopping $4.7 million! 💰💰

Fidelity's S-1 registration form revealed that the proceeds from the sale of the Seed Baskets, amounting to $4,749,975.00, were used to buy 1,250 ETH on June 4. This purchase was made by FMR Capital, an affiliate of Fidelity, securing the asset manager 125,000 shares for $38 each. 📈📊

This isn't Fidelity's first rodeo, though. When launching its Bitcoin ETF in January, Fidelity seeded its fund with $20 million. Now, they're showing the same confidence in Ethereum, and it's a big deal! 🎉🎉

But how will Ethereum ETFs perform? Analysts are divided. Some predict that Ethereum's ETF flows will not surpass Bitcoin's, but will greatly outperform the average newly launched ETF product. Others are more bullish, predicting that Ethereum ETFs could pull in $45 billion of inflows within a year. 🚀🚀

So, what's next? As the launch date approaches, we can expect more providers to reveal their fees. Bloomberg ETF analyst Eric Balchunas estimates that the funds will go live on July 2. So, mark your calendars, folks! 📅🎉

Stay tuned for more exciting updates in the world of BTC! 🚀🚀🚀