Fidelity has announced a significant investment in its amended SEC filing, disclosing a $4.7 million stake in a spot Ethereum ETF.
This move comes as part of their broader strategy in the growing cryptocurrency market.
Fidelity’s affiliate, FMR Capital, initiated the investment by purchasing a single share for $40 in late May.
Subsequently, on June 4, FMR Capital acquired 125,000 shares at nearly $38 each, totalling $4,749,975. This investment allowed the Trust to acquire 1,250 ether on the same day.
The amended filing did not include fee details, a common omission among spot Ether ETF issuers.
According to Bloomberg’s Senior ETF Analyst Eric Balchunas, issuers are likely holding off on fee disclosures until BlackRock reveals its own.
Recently, Bitwise updated its registration, noting a $2.5 million seed investment and Pantera Capital’s potential $100 million share purchase.
The SEC has given the green light to 19b-4 forms for eight Ethereum ETFs, though trading awaits the activation of their S-1 statements.
Balchunas anticipates more amended filings soon, suggesting a possible launch date for Ethereum ETFs around July 2nd, pending SEC approval.
