Fidelity Investments has added staking to its application for the spot Ethereum-ETF
Fidelity Investments has amended the application for the spot Ethereum-ETF. She added to it the ability to lock up part of the fund's assets.
Fidelity Investments has amended its application for registration of the spot Ethereum-ETF by adding staking to it. This was stated by Bloomberg Intelligence analyst James Seyffart.
Fidelity not giving up on #Ethereum ETFs and not giving up on SEC allowing them to Stake within the ETF. Our base case is still that these aren't gonna be approved https://t.co/6ynFvBrvoo pic.twitter.com/yxSLsBbi2C
— James Seyffart (@JSeyff) March 18, 2024
The papers say the following:
"The sponsor may from time to time place part of the fund's assets through trusted betting providers, which may include an affiliate of the applicant."
At the same time, the organization considers the Ethereum (ETH) received as a reward as the income of the fund. In this case, it probably won't be distributed to investors.
Seyffart himself rated the product's chances of approval low. However, he did not explain whether he meant all spot Ethereum ETFs or just a fund from Fidelity Investments.
Experts at Standard Chartered Bank believe that spot Ethereum ETFs are highly likely to be approved in May 2024. In this case, the asset price is likely to rise to $8000 in the coming months.
