Fidelity’s Spot Ether ETF appears under the FETH ticker on DTCC.
Fidelity Investments’ U.S. Spot Ethereum Exchange Traded Fund has been added to the Depository Trust and Clearing Corporation’s list of ETFs.
The fund, named Fidelity Ethereum FD Beneficial INT, is listed under the FETH ticker. DTCC has designated the ETF as a domestic fund, and FETH is indicated as ‘N’ in the creation/redemption item, so it appears to have not been activated yet.
“This file contains both active ETFs that can be processed by DTCC and ETFs that are not yet active (“pre-launch”) and therefore cannot be processed by DTCC unless those securities have all the necessary regulations and controls in place. Other approvals,” DTCC noted.
DTCC has so far included spot ether ETFs proposed by VanEck, Franklin Templeton, and BlackRock in its list of ETFs. However, the SEC-registered securities clearing firm previously told The Block that additions to its list include: “Standard Practice” This does not indicate potential regulatory approval.
Last week, the U.S. Securities and Exchange Commission (SEC) 8 19b-4s approved Spot ether ETF forms from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark Invest, Invesco Galaxy, and Franklin Templeton. With this preliminary approval, the company must still receive an S-1 registration statement approved by regulators to activate the fund.
Fidelity filed an amended Form S-1 last week, and BlackRock, which recently became the largest spot Bitcoin ETF, filed an amended registration statement on Wednesday.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
