The US Securities and Exchange Commission (SEC) has opened a public comment forum regarding proposed rule changes that would allow asset management firm Fidelity to offer shares in its Ethereum Spot (CRYPTO: ETH) exchange-traded fund (ETF).
What Happened: In its official notice, the SEC stated that “interested persons are invited to submit written information, opinions, and arguments regarding the foregoing, including whether the proposed rule changes comply with the law.”
A 21-day period has been given to comment on the proposed changes to allow the Cboe BZX Exchange to list and trade shares of the Fidelity Ethereum Fund.
Fidelity initially filed for approval of the fund on November 17, 2023, with the hope that the SEC would approve the Bitcoin exchange-traded fund. Once approved, the Fidelity Ethereum Fund will be listed on the Cboe BZX exchange.
Why This Matters: The filing continues: “At the same time, investors in other countries, including Germany, Switzerland and France, will be able to physically take advantage of more traditional, exchange-traded products (including exchange-traded funds on exchanges that own ETH.”), to gain access to ETH.
“Investors across Europe have access to products traded on regulated exchanges, providing access to a wide range of spot crypto assets. In contrast, US investors find access to Ethereum with fewer resources and risks.”
According to analyst James Seifert, the deadline will come next week.
Shares associated with the Bitcoin Futures ETF were first listed and traded on exchanges in October 2021, and nine Ethereum Futures ETFs were launched in October 2023.
Read more: Bitcoin Rises as BTC ETF Landscape Expands, Dogecoin and Ethereum Thrive: Analyst Expects Apex Crypto to Surpass $38,000
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