The U.S. Securities and Exchange Commission (SEC) is asking the public what they think about financial services giant Fidelity’s potential spot market Ethereum (ETH) exchange-traded fund (ETF).
In a new notice, the regulatory agency is asking the public for their opinion on Fidelity filing a bid to create an Ethereum-based ETF on the Chicago Board Options Exchange (CBOE).
“Given that on November 17, 2023, Cboe BZX Exchange, Inc. filed with the Securities and Exchange Commission (SEC) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange.
The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons… Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act.”
Fidelity says that the approval of its ETH ETF would be a major victory for US crypto traders as it would be even safer than purchasing the top altcoin from centralized exchanges.
“To this point, approval of a Spot ETH ETP (exchange-traded product) would represent a major win for the protection of US investors in the crypto asset space.
The Trust, like all other series of Commodity-Based Trust Shares, is designed to protect investors against the risk of losses through fraud and insolvency that arise by holding digital assets, including ETH, on centralized platforms.”
Fidelity, which has over $4 trillion of assets under its management, first announced that it would apply to create an ETH ETF earlier this month, joining other financial firms such as BlackRock and Hashdex.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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