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$4.5 trillion asset management firm Fidelity has filed an S-1 form for a Spot Ethereum ETF with staking included. Indeed, the official registration statement was filed Wednesday with the US Securities and Exchange Commission (SEC) for the hopeful Fidelity Ethereum Fund. The start of the year saw the SEC approve the very first Spot Bitcoin ETF in the United States, with which Fidelity was among the first 11 issuers.
That decision has proved immensely successful for the digital asset market as a whole. Subseuqnlety, many have predicted an Ethereum offering would be a matter of time. The digital asset market received a massive shift with the arrival of Spot Bitcoin ETFs in 2024. The decision saw BTC surge to an all-time high that year, reaching $73,000 in March. Moreover, that does not appear to be the last record mark for the asset, with there still beginning expectations of its continued climb.
The success of the investment products led many to question what cryptocurrency could be next. That decision appeared rather simple, with many expecting Ethereum to be the most likely. Now, Fidelity- an issuer of a Spot Bitcion ETF- has filed for a Spot Ethereum ETF with the SEC that includes staking. The asset manager had originally filed for a Spot Ethereum ETF in November of last year. It joined firms like BlackRock, VanEck, ARK Invest, and a few others. The most filing states that the Fidelity Ethereum Fund would issue shares that trade on the Chicago Board Options Exchange (CBOE), and includes staking. The prospect of Ethereum receiving a Spot ETF has been questionable.
The SEC has reportedly entered a legal campaign that threatens the security status of ETH. However, GrayScale chief legal officer, Craig Salm, speaks confidently about impending approvals. Specifically, he notes that the Spot Bitcion ETF decision saw “all of these issuers” be figured out by both sides. Therefore, he notes that the process should be less exhaustive because the only difference is the asset the ETF holds. However, only time will tell if the SEC continues its stance against Ethereum.
