Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

Fidelity Includes Staking In Spot Ethereum ETF Application

Fidelity Investments filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for a spot Ethereum ETF.
byMurtuza Merchant
March 27, 2024
2 minute read
Total
0
Shares
0
0
0
0
0
0

Fidelity Investments filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for a spot Ethereum ETF.

What Happened: This ETH) investors seeking a regulated way to gain exposure to the world’s second-largest cryptocurrency.

The development comes on the heels of the successful launch of spot Bitcoin ETFs in the U.S. earlier this year.

Fidelity was among the first 11 issuers to receive approval for a Bitcoin ETF, a decision that demonstrably boosted the overall digital asset market. The fund is the Fidelity Wise Origin Bitcoin Fund (BATS:FBTC).

The price of Bitcoin soared to new highs in March 2024, reaching a record-breaking $73,000.

The arrival of spot Bitcoin ETFs in 2024 triggered a major shift in the digital asset landscape.

As Bitcoin prices surged, many began to speculate on which cryptocurrency would be next.

Ethereum, the leading altcoin, emerged as the frontrunner.

Also Read: AI Revolution Goes Decentralized: $7.5B Token Merger Aims To Challenge Big Tech

Benzinga future of digital assets conference

Why It Matters: Fidelity’s initial filing for a spot Ethereum ETF took place in November 2023. This move mirrored similar filings from other major investment firms like BlackRock, VanEck and ARK Invest.

Notably, the current filing specifies that the Fidelity Ethereum Fund would trade shares on the Chicago Board Options Exchange (CBOE) and include staking functionality.

This staking feature allows investors to earn rewards by holding their Ethereum tokens, potentially increasing their returns.

The evolving regulatory landscape surrounding cryptocurrencies highlights the need for open discussions about asset classification, investor protection and innovation.

These topics are expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: Coinbase Legal Setback: Court Rejects Motion To Dismiss SEC’s Securities Allegations

Photo: Shutterstock

 
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Share 0
Related Posts
Read More

Cannabis Edibles Maker Indiva Reports Record Revenue In 2023, Positive EBITDA And Income From Q4 Operations

By Jelena Martinovic
April 25, 10:07 AM
Canadian cannabis edibles producer Indiva Limited announced on Thursday its financial and operating results for the fourth quarter and fiscal year ended Dec. 31, 2023. For the fourth quarter, the company reported a 53.3% increase year-over-year increase in gross profit before inventory write-down to CA$4.2 million (roughly $3 million). Gross margin before inventory write-down improved to a record 38.5% of net revenue, versus 37.1% in the prior quarter and 29.3% in the prior year's period. Indiva attributed the improvement in gross margin percentage year over year to higher sales, improved operating efficiencies and a positive mix shift toward higher-margin products.

NDVAF