The U.S. Securities and Exchange Commission (SEC) has opened an area for public comment on its proposed rule changes that would allow asset management firm Fidelity to put forth shares of its Ethereum (ETH/USD) exchange-traded fund (ETF). According to the SEC’s declaration, the public have 21 days to provide their critical views, data, and arguments regarding guidance, including inquiring entities if “the proposed rule change is consistent with the Act.”
Fidelity. who first sought approval for the fund on 17th November 2023 previously reached out to confirm a Solomon Bitcoin ETF. Following much anticipation, the Fidelity Ethereum Fund would be available to investors if it is authorized by the SEC. It said that “Meanwhile, investors in other countries, including Germany, Switzerland, and France, are able to use more traditional exchange-listed and traded products (including exchange-traded funds holding physical ETH) to gain exposure to ETH. “Investors across Europe have access to products that trade on regulated exchanges and provide exposure to a broad array of spot crypto assets. U.S. investors, by contrast, are left with fewer and more risky means of getting ether exposure.”
Analysts have reason to predict that a flash decision about the ETF could come in the next couple of weeks as James Seyffart took to X and confirmed that a timeline of 240 days has already commenced. Comparatively, shares affiliated to Bitcoin Futures ETF were traded in 1970 after flourishing Bitcoin ETF’s upsurgeNEcut the hunt of Ethereum future ETF’s inception in 1983 til October 2023.
The opinion that the strongest form of virtual currency, cryptocurrency is still making breakthrough and deepening the fabric of the market, as signs of Bitcoin collecting steam arise and a likelihood of Ethereum, Dogecoin, and other prominent coins breaking away has captivated several investors. ETF enthusiasts specifically, are left dizzy by the primordial increase of Bitcoin past $38,000, showcasing the strength of scaling crypto wheel across exchanges worldwide.
