Fidelity Joins Race for SEC Approval of Spot Ethereum ETF
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Fidelity seeks SEC approval for a spot Ethereum ETF following BlackRock's filing for an Ethereum Trust ETF.
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Fidelity aims to provide US investors low-risk exposure to Ethereum amid lack of regulated ETH products.
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Fidelity argues an Ethereum ETF could have limited losses from failed crypto firms like FTX and Celsius.
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Fidelity is the 7th firm to apply for an Ether ETF after BlackRock, VanEck, 21Shares, ARK Invest, Hashdex, and Grayscale.
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The filing comes after BlackRock's official application for a spot Ethereum ETF with the SEC in November.