Fun

Fidelity amends Ether ETF Filing, discloses $4.7M in seed capital

News Feed - 2024-06-22 02:06:24

Ana Paula Pereira6 hours agoFidelity amends Ether ETF Filing, discloses $4.7M in seed capitalBloomberg analyst Eric Balchunas anticipates that additional asset managers will update their filings on June 21, with Ether ETFs potentially debuting on July 2.1423 Total views12 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksInvestment giant Fidelity has again updated its application for a spot Ether (ETH) exchange-traded fund (ETF). 


In a June 21 filing with the United States Securities and Exchange Commission, Fidelity has amended its Form S-1 Registration Statement, which is required to register investments for public sale.


The new filing reveals that FMR Capital, an affiliate of Fidelity, purchased 125,000 shares at a cost of $38 to seed the funds’ basket with $4.7 million. The money was used to purchase 1,250 Ether (ETH).


In addition, Fidelity confirmed that it will not engage in ETH staking. Staking services were removed from the company’s initial proposal a month ago on May 21.


“The Trust will not participate in the proof-of-stake validation mechanism of the Ethereum network (i.e., the Trust will not ‘stake’ its ether) to earn additional ether or seek other means of generating income from its ether holdings,” reads the filing. 


The SEC has approved a rule change allowing the listing and trading of eight spot Ether ETFs from major asset managers, including VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy and Bitwise. The ETFs still require SEC approval for their S-1 forms before they can begin trading.


Related: SEC to drop investigation into Ethereum — ConsensysSource: Street Insider


According to Bloomberg ETF analyst Eric Balchunas, more asset managers are expected to amend their filings on June 21. The analyst predicts the funds’ debut on July 2. Balchunas wrote on X:“We will see a bunch of amended S-1s filed today, prob later this afternoon. Then ball’s in SEC’s court to let issuers know about any final changes and effectiveness (aka final approval). We holding the line with July 2nd as our over/under for eth ETFs launch date.”


Bitwise has also updated its proposal with the SEC. On June 19, the asset manager included a potential $100-million investment in the ETF from Pantera Capital upon its trading launch.


Another asset manager seeking regulatory approval is Hashdex. On June 18, the company proposed creating a combined spot Bitcoin (BTC) and Ether ETF on the Nasdaq exchange. A few weeks before this filing, Hashdex dropped plans to offer a sole Ether ETF.


Magazine: Polygon never set out to beat Ethereum: Anurag Arjun, X Hall of Flame# Business# Ethereum# SEC# Regulation# Ethereum ETFAdd reaction

News Feed

Fearing a Hawkish Fed: Economists Focus on Upcoming FOMC Meeting as Global Market Rout Slows
Fearing a Hawkish Fed: Economists Focus on Upcoming FOMC Meeting as Global Market Rout Slows Global markets have been feeling the pressure of fear and uncertainty, as the upcoming
Ex-Binance CEO Changpeng Zhao sentenced to four months in prison
Turner Wright4 hours agoEx-Binance CEO Changpeng Zhao sentenced to four months in prisonChangpeng Zhao, also known as CZ, pleaded guilty in November to violating U.S. money laundering laws and had been free to travel in
Defi Lending Startup Aave Launches Permissioned Platform to Entice Financial Institutions
Defi Lending Startup Aave Launches Permissioned Platform to Entice Financial Institutions On January 5, the open-source non-custodial decentralized finance (defi) lending platform
MEXC says ‘clawbacks’ only affect delinquent traders as users report missing funds
Christopher Roark3 hours agoMEXC says ‘clawbacks’ only affect delinquent traders as users report missing fundsA growing number of traders have complained of funds being deducted from their MEXC accounts, but the exch
Nepalese Police Investigate Actress Priyanka Karki for Possible Involvement in Crypto Scheme
Nepalese Police Investigate Actress Priyanka Karki for Possible Involvement in Crypto Scheme Nepalese actress and model Priyanka Karki is being questioned by the police after her p
Master Ventures Adds Polker (PKR) to Portfolio as Play-to-Earn Project Gains Traction
Master Ventures Adds Polker (PKR) to Portfolio as Play-to-Earn Project Gains Traction sponsored Malta, 27 Sep 2021 – Master Ventures have announced that they have added Polke
Mint Bot Allows Telegram Users to Tip People in Chat Rooms With Any SLP Token
Mint Bot Allows Telegram Users to Tip People in Chat Rooms With Any SLP Token A software developer recently launched a new Simple Ledger Protocol (SLP) tipping bot for Telegram c
Arijit Sarkar37 minutes ago3 unique ways hackers are stealing your crypto: Bitrace ReportCrypto investors claiming “my coins disappeared suddenly” have been found to recently download crypto applications from unverif
Controversial ‘Tiktok Ban Bill’ Sparks Concerns Among Cryptocurrency and Technology Advocates
Controversial "Tiktok Ban Bill" Sparks Concerns Among Cryptocurrency and Technology Advocates Cryptocurrency and technology proponents have recently been discussing a new bipartisa
Report: DOJ and FBI Investigating Terraform Labs in Connection to Algorithmic Stablecoin Collapse
Report: DOJ and FBI Investigating Terraform Labs in Connection to Algorithmic Stablecoin Collapse The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are
Picpay Rolls Out Crypto Trading Options to More Than 30 Million Users in Brazil
Picpay Rolls Out Crypto Trading Options to More Than 30 Million Users in Brazil Picpay, a payments and wallet app, is now providing cryptocurrency services to more than 30 million
Jerome Powell’s pivot heralds a boring summer for Bitcoin
Lucas Kiely4 hours agoJerome Powell’s pivot heralds a boring summer for BitcoinThe Federal Reserve isn"t sticking with the schedule of interest rate cuts it predicted earlier in the year. That makes navigating the mark