Tag: ETF

Fidelity Joins Race For A Spot Ethereum ETF

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Fidelity, a prominent asset management firm with over $4.5 trillion in assets under management, has formally submitted an application for the establishment of a Spot Ethereum Exchange-Traded Fund (ETF). The decision is a response to the recent action taken by BlackRock, an asset management company, which submitted their application for an Ethereum Exchange-Traded Fund (ETF) last week. Fidelity Is 7th On The List Fidelity Investments has recently positioned itself as the seventh asset management in the United States to pursue the aforementioned product. Based on the SEC’s Form 19b-4 filing,…

Fidelity seeks green light for Ethereum ETF, following BlackRock’s filing

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Fidelity, an asset management firm overseeing $4.5 trillion in assets, has become the latest firm to seek approval for a spot Ethereum (ETH) exchange-traded fund (ETF). In a filing with the United States Securities and Exchange Commission (SEC) on November 17, Fidelity proposes to list and trade shares of the Fidelity Ethereum Fund on the Cboe BZX Exchange.   “According to the Registration Statement, each Share will represent a fractional undivided beneficial interest in the Trust’s net assets. The Trust’s assets will consist of ETH held by the Custodian on behalf of…

Bitcoin fees skyrocket on ETF hype

The prospect of a spot Bitcoin (BTC) exchange-traded fund (ETF) being approved soon in the United States has increased demand for the major cryptocurrency, leading to a surge in transaction fees. The Bitcoin blockchain reached $11.6 million in fees paid on Nov. 16 according to statistics from CryptoFees. At the time of writing, YCharts data shows that the average transaction fee is $18.69, up 113% from the previous day and 746% from the year ago level. Bitcoin transaction fees between January 2023 and November 2023. Source: CryptoFees According to Cointelegraph’s market…

Bitcoin fees skyrocket on spot BTC ETF hype

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The prospect of a spot Bitcoin (BTC) exchange-traded fund (ETF) being approved soon in the United States has increased demand for the major cryptocurrency, leading to a surge in transaction fees. The Bitcoin blockchain reached $11.6 million in fees paid on Nov. 16, according to statistics from CryptoFees. At the time of writing, YCharts data shows that the average transaction fee is $18.69, up 113% from the previous day and 746% from a year ago. Bitcoin transaction fees between January 2023 and November 2023. Source: CryptoFees According to Cointelegraph’s market analysis,…

BlackRock Wants An Ether Spot ETF

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BlackRock has joined the Ethereum Spot ETF race as the asset management company has officially applied to the US SEC and is currently waiting for approval.  BlackRock Files For An Ethereum Spot ETF Following its Spot Bitcoin ETF filing, BlackRock, an American investment company has taken the proactive step by filing an Ethereum Spot Exchange Traded Fund (ETF) with the United States Securities and Exchange Commission (SEC).  The asset management company submitted the application on November 15, however, BlackRock has stated it formed the Trust as early as November 9. …

WisdomTree makes an amendment to spot Bitcoin ETF application

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International ETF provider WisdomTree has submitted a revised Form S-1 for its Bitcoin ETF prospectus to the United States Securities and Exchange Commission (SEC) on Nov. 16.  This update follows WisdomTree’s resubmission of its spot Bitcoin ETF application in June 2023. Ongoing intentions The WisdomTree Bitcoin Trust ETF will be traded under the ticker BTCW in the revised prospectus. The custodial responsibility for safeguarding all of the trust’s Bitcoin assets will be entrusted to Coinbase Custody Trust. Bloomberg’s ETF analyst, James Seyffart, highlighted that the recent adjustments in the Form…

BitGo CEO expects additional round of Bitcoin ETF rejections

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BitGo CEO Mike Belshe says the market should expect another round of spot Bitcoin ETF rejections as there are still issues to be resolved. Although the crypto market is seeing signs that a spot Bitcoin (BTC) exchange-traded fund (ETF) will finally be approved somewhat in the near future, BitGo CEO Mike Belshe thinks the industry should prepare for yet another round of rejections by the U.S. Securities and Exchange Commission (SEC). In an interview with Bloomberg, Belshe, who runs qualified crypto custodian in the U.S., noted that he’s optimistic about…