The U.S. Securities and Exchange Commission (SEC) has received a spot #Ethereum Exchange Traded Fund (ETF) application from Fidelity Investments.
According to the business, the approval of a spot Ethereum #ETF would be a major victory for American investors' safety in the cryptocurrency market.
This action by Fidelity is in response to its earlier application for a spot #BTC ETF and follows comparable requests from BlackRock, its primary rival.
The approval of a spot #ETH ETF is thought to be a game-changer for U.S. cryptocurrency investing since it may make Ethereum more accessible to regular investors.
By January 10, 2024, the SEC is supposed to announce its decision about the approval of a #Bitcoin ETF. This could have an impact on other ETF applications that are still pending, such as Ethereum's. The Fidelity Ethereum ETF would trade in accordance with the BZX Rule if it were approved.
