**Fidelity’s Push for Ethereum ETF, After BlackRock’s Move** Fidelity, a leading asset management firm overseeing a massive $4.5 trillion in assets, has recently submitted an application for a spot Ethereum (ETH) exchange-traded fund (ETF). For this purpose, the firm has approached the United States Securities and Exchange Commission (SEC) seeking approval to list and trade shares of the Fidelity Ethereum Fund on the Cboe BZX Exchange. ### Fidelity’s Bold Step In its filing with the SEC, Fidelity has made a ground-breaking proposal, declaring that U.S. retail investors currently lack a low-risk avenue to expose themselves to ETH. The firm has emphasized that by introducing the Fidelity Ethereum Fund, it aims to provide U.S. citizens with a regulated, U.S. exchange-traded vehicle to gain exposure to ETH, citing the absence of such options until now. ### Expanding Opportunities Fidelity’s move comes in the wake of BlackRock’s recent submission for a spot Ether ETF, known as the iShares Ethereum Trust. Both Fidelity and BlackRock join the league of firms vying for the launch of Ether ETFs, with significant players like VanEck, 21Shares, ARK Invest, Hashdex, Grayscale, and Invesco Galaxy already seeking approval for similar offerings. ### European Influence The filing also sheds light on the fact that European investors have access to products that trade on regulated exchanges, providing exposure to a wide range of spot crypto assets. Furthermore, Fidelity’s proposal indicates that availability of an Ether ETF could have mitigated the losses incurred by U.S. investors due to the demise of firms such as FTX, Celsius Network, and BlockFi. ### Fidelity’s Position As one of the major players in the financial market, Fidelity’s pursuit of an Ethereum ETF is another significant development in the crypto investment landscape. The move highlights the growing interest and confidence among traditional financial institutions in the potential of digital assets, despite the challenges associated with regulatory oversight and market volatility. ### Editor Notes To stay updated on breaking news and developments in the world of cryptocurrencies, visit [Uber Crypto News](https://ubercryptonews.com).

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