Fidelity’s Seed Capital
Fidelity has updated its application for an Ethereum ETF, revealing that it has invested $4.7 million in seed capital. The company purchased 125,000 shares of the fund at a price of around $38 each.
No Staking for Fidelity
Fidelity has confirmed that it will not participate in Ethereum staking, a process that allows users to earn additional Ethereum by validating transactions.
Fees Still a Mystery
Fidelity’s updated application does not mention any fees for the ETF. Bloomberg ETF expert Eric Balchunas speculates that issuers may be waiting until the last minute or for BlackRock to announce their fees.
BlackRock’s Seed Capital
BlackRock has also updated its S-1 form, reporting a seed capital of around $10 million for its Ethereum ETF. However, it also did not disclose any fees.
ETF Launch Date Prediction
Balchunas maintains his prediction that Ethereum spot ETFs will begin trading in the United States on July 2, 2024. The SEC will now review the latest amendments and make a decision on the final approval of the ETFs.
