In the ongoing battle for crypto ETF approvals, industry heavyweights Fidelity and BlackRock have now submitted proposals, drawing even closer together in the hunt for an Ethereum ETF.
Spot Ethereum ETF’s Truthfulness Documents After submitting an application for a Bitcoin ETF to the US Securities and Exchange Commission earlier this year, Fidelity Investments has now proposed an Ethereum ETF. This request, made on November 17, reveals that Fidelity is planning to increase the amount of bitcoin it gives.
Not long ago, the biggest asset manager in the world, BlackRock, submitted paperwork for its Ethereum exchange-traded fund (ETF). In this market, BlackRock faces competition from Fidelity, the third-largest asset manager with $4.2 trillion in assets under management.
Numerous other asset managers are submitting applications for their own Ethereum and Bitcoin ETFs, following in the footsteps of these industry giants.
Other applications for Bitcoin ETFs may be affected by the SEC’s judgment on this one, which is anticipated by January 10, 2024. Although Ethereum ETFs are evaluated independently, the approval of one kind of both ETFs might encourage the acceptance of the other. Ethereum and Bitcoin futures ETFs have previously been authorized by the SEC.