As a researcher with a background in the financial industry and experience following the regulatory filings related to cryptocurrency ETFs closely, I’m excited about Fidelity Investments’ updated spot Ethereum ETF S-1 registration form. This filing comes at a time when there is growing anticipation regarding the approval of spot Ethereum ETFs for trading.
As a researcher studying the world of financial investments, I’ve noticed that Fidelity Investments, a leading player in this industry, has recently submitted an updated registration form for its proposed spot Ethereum Exchange-Traded Fund (ETF). This action aligns with my earlier predictions, as many anticipated filers are expected to make similar moves today.
Is Spot Ethereum ETF Trading Close?
As a crypto investor, I’ve been closely following the latest developments in the world of Ethereum Exchange-Traded Funds (ETFs). The recent update to Fidelity Investments’ S-1 filing has sparked renewed excitement among investors, as it comes amidst increasing rumors that spot Ethereum ETFs may soon be given the green light to begin trading. However, upon closer inspection of Fidelity’s filing, I noticed something intriguing. According to Eric Balchunas, Senior ETF Analyst at Bloomberg, there seems to be a significant omission in Fidelity’s application that could provide valuable insights into their plans for an Ethereum ETF.
In their latest filings, both Bitwise and BlackRock, like the asset manager in question, neglected to disclose sponsor fees – a practice some may view as emerging trend.
However, Franklin Templeton bucked the trend when it sets its sponsor fee at 19 bps.
Fidelity initiates the process of filing for its bitcoin ETF, marking the beginning of the S-1 filings. No fees have been announced as of yet, with Franklin being the only one to charge a fee at 19 basis points. Bitwise also held back on disclosing any fees. The industry players are likely holding off until the last minute or closely observing BlackRock’s move before making their own decisions.
— Eric Balchunas (@EricBalchunas) June 21, 2024
Balchunas proposed that the lack of ability for most issuers to provide a no-fee spot ETF permanently, suggests that we may be approaching the final day of trading for such an instrument.
This is a developing story, please check for updates!
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2024-06-21 19:16