Fidelity joins BlackRock in race for Ethereum ETF
The company manages more than $11 trillion in client assets and has been growing its cryptocurrency business since 2018.
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Financial services giant Fidelity Investments is seeking regulatory approval to launch an exchange-traded fund (ETF) holding the ethereum cryptocurrency, according to a filing with the U.S. Securities and Exchange Commission on Thursday. The filing comes a day after BlackRock filed for its own Ethereum ETF.
The proposed Fidelity Ethereum Fund would track the price of Ethereum, the native token of the Ethereum blockchain network. Shares of the ETF will trade on the Cboe BZX exchange under the ticker ETHF.