Fidelity Modifies Ether ETF Submission and Excludes ETH Staking
Fidelity, an investment management company, The application for the spot Ether exchange-traded fund (ETF) has been revised. With the U.S. Securities and Exchange Commission (SEC).
Fidelity’s updated S-1 filing Excludes staked Ethereum from ETF. Complies with SEC registration requirements for U.S. financial products.
The change follows reports that the SEC could potentially be influenced by political pressure. is Reexamined its position on the spot Ether ETF and requested that the issuer update its 19b-4 filing.
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The next key date is May 23rd. It’s time for the SEC to decide on VanEck’s Ether ETF proposal. Eric Balchunas, senior ETF analyst at Bloomberg, said: Increased the approval rate for Form 19b-4 to 75%.
However, Bloomberg analyst James Seyffart noted:
S-1 approval is also required. It may take several weeks or months to see S-1 approval and a live ETH ETF.
The SEC has had a complicated relationship with Ether, especially since Ethereum switched to a proof-of-stake (PoS) mechanism, with SEC Chairman Gary Gensler suggesting: Cryptocurrencies that allow staking can be considered securities. This has sparked a debate about the regulatory status of staked Ethereum.
Alex Thorn, head of research at Galaxy Research, suggested: The SEC could classify staked Ether as a security despite potential approval of an Ether ETF.
Fidelity submitted its S-1 application on March 27th. I plan to stake a portion of the fund’s Ether. this strategy pointed out potential risks, Including “penalty cuts” and liquidity issues during staking.
The decision to exclude staking from the revised filing demonstrates Fidelity’s efforts to meet regulatory expectations and avoid the risks of staking.
In other news, VanEck CEO Jan van Eck previously expressed doubts about whether the company’s spot ETH ETF would be approved.
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