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Summary
Fidelity updates its Spot Ethereum ETF proposal to exclude staking Ether tokens, potentially increasing the chances of SEC approval. The SEC’s decision on VanEck’s ETF is expected on May 23.
Introduction
Fidelity has revised its S-1 filing for a Spot Ethereum ETF with the SEC, amidst speculation of ETF approval on May 23. This move aims to address regulatory concerns and enhance the likelihood of Ether ETF approval.
Main Points
The revised filing clarifies that the ETF will not stake Ether tokens, ensuring compliance with SEC regulations. Recent scrutiny of SEC’s stance on such ETFs has led to modifications in filings by issuers, potentially influencing the approval process.
The SEC’s decision on VanEck’s Spot Ethereum ETF is eagerly awaited on May 23, with market sentiment shifting towards increased optimism for approval. Bloomberg’s analyst suggests a 75% chance of approval for these ETFs, reflecting growing investor confidence.
Conclusion
Fidelity’s decision to exclude staking in their ETF proposal could strengthen their case with the SEC for approval. This proactive step aligns with the evolving regulatory landscape and market expectations for Ether ETFs.
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