Fidelity Follows BlackRock, Files For Spot Ethereum ETF – Where Next for Ether (ETH)? Asset management giant
Fidelity just filed a 19b-4 with the Chicago Board Options
Exchange (CBOE) to set up a spot Ethereum exchange-traded fund
(ETF) called the Fidelity Ethereum Trust, just one day after
BlackRock filed to set up the iShares Ethereum Trust, its own spot
Ethereum ETF. The latest move to offer a spot Ethereum
ETF to investors comes as major asset managers double down on bets that cryptocurrencies have a
bright future, and that their new proposed crypto investment vehicles will gain quick approval in the
US. Both asset managers plus a dozen others filed to set up spot Bitcoin
ETFs back in June, with many analysts betting that these applications will gain approval as soon as January.
Fidelity manages over
$4.5 trillion in investor funds, whilst BlackRock manages over
$8 trillion, making it the largest asset manager in the world.
