Fidelity Investments made a significant step forward with its Ethereum ETF. The Depository Trust and Clearing Corporation (DTCC) included Fidelity’s Ethereum FD Beneficial INT fund (ticker symbol FETH) on its list of ETFs. This inclusion is a positive development but does not mean an immediate launch.
The DTCC clarified that the “N” mark under the create/redeem column indicates FETH as a “pre-launch” ETF. This means it won’t be tradeable until it gets all the necessary approvals. The DTCC has emphasized that this is standard procedure and does not guarantee regulatory approval from the Securities and Exchange Commission (SEC).
The success of BlackRock’s spot Bitcoin ETF, which has become the largest of its kind, adds to the expectations surrounding potential spot Ether ETFs. This development has sparked significant interest in the cryptocurrency community, with many eagerly awaiting the final decision.
Fidelity’s inclusion on the DTCC list follows similar actions for proposed spot Ether ETFs from other companies like VanEck, Franklin Templeton, and BlackRock. This trend indicates growing interest and confidence in Ethereum-based financial products.
Despite the excitement, investors should be aware that regulatory approval from the SEC is still required before trading can begin. The process is thorough and aims to ensure the safety and security of investors. As such, while the inclusion on the DTCC list is a step forward, it is not the final step.
The move to list FETH on the DTCC is seen as a strategic one, aligning with the broader trend of increasing institutional interest in cryptocurrencycurrency investments. It reflects the growing acceptance and integration of digital assets into mainstream financial markets.
Also read: Caitlyn Jenner Outlines Her Thoughts on $Jenner Token
