Fidelity Investments Adds Staking Option to Spot Ethereum ETF Filing
Fidelity Investments, an American investment management firm, has added the option for staking to its spot Ethereum ETF filing with the United States Securities and Exchange Commission (SEC). This move comes after Fidelity applied to list its Ethereum spot ETF in November 2023, becoming the seventh firm in the U.S. to pursue this product. Despite the SEC’s delay in making a decision on the rule change, Fidelity remains committed to offering staking for the cryptocurrency.
Spot Ethereum ETF Trading Compliance
If approved, Fidelity’s spot Ethereum ETF will trade in compliance with the BZX Rule.
SEC’s Decision Delayed
The SEC was expected to decide on the rule change within 45 days of its publication for public comment. However, the agency announced a 45-day extension, pushing its decision on Fidelity’s spot Ethereum ETF to March 5. As of now, no decision has been made by the SEC regarding Fidelity’s ETF or any other applicant’s.
“FIDELITY ADDS STAKING TO THEIR ETH ETF APPLICATION IN AMENDMENT”
Source: DB | Coins: ETH
In the meantime, Ark Invest and 21Shares are still awaiting a decision on their joint spot Ethereum ETF by May. The industry is also closely watching VanEck’s filing deadline on May 23 as a significant point for the product. However, given the SEC’s consistent extensions of decision dates, it is uncertain if they will meet these deadlines. JPMorgan and other industry players have expressed doubt about the SEC approving Ethereum ETFs in May.
Fidelity’s Amended Filing Indicates Hope
Despite the uncertainty surrounding the SEC’s decision, Fidelity Investments has amended its filing to include staking options for its spot Ethereum ETF. The firm plans to stake a portion of the fund’s assets through trusted staking providers and receive network rewards in the form of ether tokens. This move suggests that Fidelity and other spot Ethereum ETF applicants are doing their best to keep hope alive.
Note: This article is for informational purposes only and should not be considered as financial advice. The information provided here does not guarantee any specific investment outcome or profit. Cryptocurrency investments are subject to market risks, including the potential loss of principal.
Hot Take: Fidelity Stays Optimistic Despite SEC’s Delay
Fidelity Investments remains optimistic about its spot Ethereum ETF despite the SEC’s delay in making a decision. By adding staking options to its filing, Fidelity shows its commitment to offering innovative investment products to investors. While the May deadlines for other ETF filings approach, it is unclear whether the SEC will approve these products. However, industry players like Fidelity continue to push forward, hoping for a positive outcome. Investors should stay informed about regulatory developments and consider their own risk tolerance before making any investment decisions.
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