News that Fidelity Investments, one of the world’s largest investment institutions, submitted its spot Ethereum (ETH) exchange traded fund (ETF) application to the SEC was on the agenda.
Trillion-dollar investment company Fidelity, which currently has a spot Bitcoin (BTC) ETF application, has a spot Ethereum ETF Investors were excited by the news that it had submitted its application to the US Securities and Exchange Commission (SEC). However, it soon became clear that this application was not a direct spot Ethereum ETF application. currently traded on the market It was noticed that it was related to an Ethereum index fund.
Fidelity’s currently traded “Wise Origin Ethereum Index” fund revised in line with regulations and it was stated that it submitted its new version to the SEC.
This relatively minor news compared to the spot Ethereum ETF news was enough to raise the Ethereum price. According to CoinGecko data, with the announcement of the news, the Ethereum price increased in a short time. %2 rising $1,621 from level to $1,652 rose up. Ethereum at the time of writing from $1,635 is being traded.