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Fidelity Applied for Ethereum ETF! Latest Update on ETFs! Asset management company Fidelity has applied for a spot in the Ethereum ETF. So what is the current status of ETF applications?
This week, the U.S. Securities and Exchange Commission (SEC) postponed its decision on the Hashdex Ethereum ETF application, which includes both spot ether and futures contracts. The SEC announced that it would decide by January 1, 2024, stating that it needed more time for the amendment.
An important development took place as the SEC postponed ETF applications. Fidelity announced that it had applied for a spot in the Ethereum ETF. At the same time, ETF applications are still in the decision phase, when the ETF decision is made, the latest status of ETF applications will be intriguing to investors!
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The Latest Status in Ethereum ETF Applications
The SEC in the Hashdex file, “The Commission believes that it is appropriate to allow a longer period to act upon the proposed rule change to provide sufficient time to evaluate the proposed rule change and the issues arising therefrom,” used the statement.
The Nasdaq exchange applied to the SEC in September to list the Hashdex Ethereum ETF. The fund is managed and controlled by a commodity pool operator registered with the Commodity Futures Trading Commission.
It is stated that the SEC has approved an Ethereum-like ETF in the past. However, it has not approved a spot ETF or a mixed ETF. In recent months, while companies are pushing for spot ether ETFs, initiatives such as Grayscale’s offer to convert Ethereum’s trust into a spot ether ETF and BlackRock’s spot ether ETF application stand out.
There are rumors that the SEC has contacted exchanges about spot ETFs this week and wanted ETFs to generate cash. This situation can be interpreted as a positive development in removing restrictions for companies applying for ETFs.
ETF analysts give a 90% chance that Bitcoin ETF applications will be approved by January 10. Also, current ETF decisions are due on January 1, 2024.
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