🌙 Fidelity Files for Ethereum ETF

Fidelity filed an application with the SEC for an Ethereum ETF, indicating increased interest from major asset managers in cryptocurrency investment products.

Author

Mike Gavela
November 17, 2023

Crypto Roundup - Nov 17

Fidelity Investments has joined the race for cryptocurrency exchange-traded funds (ETFs) by filing a 19b-4 application with the SEC for an Ethereum ETF, following a similar move by BlackRock, showcasing increasing interest from major financial institutions in crypto-based products. Concurrently, the SEC has delayed decisions on several ETF applications, including Hashdex's Ethereum ETF and spot Bitcoin ETFs from Franklin Templeton and Global X, pushing deadlines into early 2024. These postponements underscore the SEC's cautious approach towards cryptocurrency ETFs amid the evolving regulatory landscape. These developments reflect the growing intersection of traditional finance and the emerging crypto market, indicating a trend towards greater institutional involvement in cryptocurrencies.

Top Stories:

  • Fidelity Files for Ethereum ETF: Fidelity filed an application with the SEC for an Ethereum ETF, indicating increased interest from major asset managers in cryptocurrency investment products.

  • SEC Delays Hashdex’s Ethereum ETF: The SEC extended its decision deadline on Hashdex’s proposed Ethereum ETF to January 2024, reflecting ongoing regulatory caution in the cryptocurrency space.

  • Franklin Templeton and Global X ETF Decisions Postponed: The SEC postponed decisions on Bitcoin ETF applications from Franklin Templeton and Global X until early 2024, continuing the trend of regulatory delays in the crypto ETF sector.

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TOP STORIES

Fidelity jumps aboard the spot ETH ETF train

According to the filing, the proposed rule change names the fund the Fidelity Ethereum Fund. The 19b-4 was filed with CBOE.

blockworks.co/news/fidelity-files-ethereum-etf

SEC delays decision on Hashdex ETH ETF rule change

The SEC's move, confirmed by a filing dated Nov. 15, comes just days after the regulator similarly delayed Hashdex’s bitcoin ETF proposal.

blockworks.co/news/sec-delays-hashdex-eth-etf

SEC Delays Decisions on Franklin Templeton and Global X Spot Bitcoin ETFs

The moves were expected and aren't having any immediate effect on the bitcoin price.

www.coindesk.com/business/2023/11/17/sec-delays-decision-on-global-x-spot-bitcoin-etf

FUNDRAISES

OTHER HEADLINES

WisdomTree Adds Coinbase as Custodian for Bitcoin ETF - Decrypt

In an updated filing this week, fund manager WisdomTree added Coinbase as its custodian for its Bitcoin ETF application.

decrypt.co/206548/wisdomtree-coinbase-custodian-bitcoin-etf

Bitcoin fees skyrocket on spot BTC ETF hype

The prospect of a spot Bitcoin ETF being approved soon in the United States has led to an increase in transaction fees for the major cryptocurrency.

cointelegraph.com/news/bitcoin-fees-skyrocket-etf-hype

Wormhole execs depart Jump Trading to run protocol independently: Bloomberg

A report from Bloomberg claims that Wormhole’s CEO and chief operating officer left Jump Trading to run Wormhole independently.

blockworks.co/news/wormhole-jump-trading-separate

ENS developers urge Unstoppable Domains to drop patents or face lawsuit

Ethereum Name Service lead developer Nick Johnson is urging Unstoppable Domains to drop a recently awarded patent.

cointelegraph.com/news/ens-developers-urge-blockchain-unstoppable-domains-drop-patents-face-lawsuit

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