According to recent SEC filings, Fidelity offers spot services that include staking features. Ethereum It filed a Form S-1 for its ETF.
Bloomberg analyst James Seyffart confirmed that Fidelity has filed an S-1 for its Ethereum ETF. Seyffart said, “This is not a change; This is the company’s first application. “They had only applied for 19b-4 so far,” he said.
Despite this development, Seyffart remains skeptical about the ETF’s approval. “This does not change our view at this time. “We still think we will most likely see rejection in May,” he added.
According to Seyffart, the chances of spot Ethereum ETFs being approved in May are decreasing. Seyffart cited U.S. regulators’ lack of engagement with potential issuers on the products as a contributing factor to the rejection. “We now believe these products will be ultimately rejected for this round on May 23,” the analyst wrote in an earlier post. He and his colleague Eric Balchunas had previously given a 35% chance of approval in May.
The US Securities and Exchange Commission (SEC) had previously postponed a decision regarding spot ETH ETFs. However, he will have to make a decision by May 23 as it is the deadline for one of the applicants.
Form S-1 SEC is the initial registration form required by the U.S. Securities and Exchange Commission (SEC) for new securities for public companies incorporated in the United States. Any securities that meet the criteria must file an S-1 before the shares can be listed on a national exchange, such as the New York Stock Exchange.
Currently, seven companies plan to launch an Ethereum fund: BlackRock, Fidelity, Galaxy with Invesco, Grayscale, VanEck, Ark with 21Shares, and Hashdex.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!