The SEC has issued an official statement inviting interested parties to share their comments on Fidelity's proposed changes to the rules. The commission is seeking public opinion regarding Fidelity's application for a spot Ethereum ETF through various communication channels.
The commission is interested in gathering written data, opinions, and arguments from interested parties regarding the proposed rule changes, including their compliance with existing legislation.
"We are publishing this notice to solicit comments from interested persons on the proposed rule changes." in the statement, the SEC states.
Fidelity's application explains that they are proposing these rule changes to be able to list and trade shares of the Fidelity Ethereum ETF. The goal of this ETF is to track the performance of Ethereum, taking into account expenses and obligations.
Fidelity emphasizes that each share of this fund represents a stake in the net assets of the ETF. They also highlight the lack of regulated investment instruments for Ethereum in the #United States and note that other countries, such as #Canada and #Brazil, already offer similar investment products.
The comments from interested parties are expected to assist the SEC in making a decision on Fidelity's application for an Ethereum ETF. The SEC has a reputation for being a cautious regulator when it comes to cryptocurrency products and has previously rejected applications for #Bitcoin ETFs.
If Fidelity's application is approved, it could lead to a greater influx of investments in Ethereum and increase its liquidity in the market. It could also enhance institutional investors' interest in cryptocurrencies and contribute to their widespread adoption.
Currently, the SEC is accepting comments from interested parties regarding Fidelity's application for an #Ethereum ETF. The final decision by the #SEC on this matter is still unknown.
