The post Fidelity Files Updated S-1 Application for Spot Ethereum ETF Ahead of SEC Looming Deadline appeared first on Coinpedia Fintech News
In a significant move for the cryptocurrency market, Fidelity has filed an updated S-1 application for its Spot Ethereum ETF. This has sparked speculation within the investment community, especially after the SEC recently asked Ether ETF issuers to update their 19b-4 filings.
Fidelity Updates S-1 Form
Fidelity, one of the world’s leading asset management firms, has recently filed an amended S-1 application with the United States Securities and Exchange Commission (SEC) for its spot Ethereum (ETH) exchange-traded fund (ETF).
The updated S-1 application submitted by Fidelity clarifies that the underlying Ether tokens for the proposed ETF will not be staked. This filing is a critical step as S-1 forms are essential for launching publicly traded securities products in the U.S., according to SEC regulations.
This filing follows recent reports suggesting a shift in the SEC’s stance on spot Ethereum ETFs. As per Coinpedia’s earlier reports, the SEC has asked ETF issuers to update their 19b-4 filings, possibly in response to political pressure.
Upcoming SEC Deadlines
The next significant deadline for the SEC is the review of VanEck’s Ether ETF proposal on May 23. Notably, senior Bloomberg ETF analyst Eric Balchunas has raised the likelihood of approval from 25% to 75%, specifically for the 19b-4 form. However, obtaining SEC approval for the S-1 filings is also necessary for the ETFs to launch.
Regulatory Landscape
The SEC’s stance on cryptocurrency ETFs has been a crucial topic of discussion. Although several Bitcoin ETFs have been approved, the approval of Ethereum ETFs would represent a significant milestone.
Fidelity’s updated application highlights the ongoing push by major financial institutions to offer these products, signaling a hopeful outlook for regulatory acceptance. As the SEC reviews Fidelity’s amended S-1 application, the financial community watches closely.
Also Check Out: BlackRock’s Secret Influence: SEC Rushes Ethereum ETF Filings – Is a Spot ETH ETF Imminent?
