Asset management giant Fidelity disclosed an initial investment of $4.7 million in its latest revised filing for Spot. Ethereum ETH
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Exchange traded fund.
FMR Capital, Inc., an affiliate of Fidelity, purchased one share for $40 in late May. Then, on June 4, FMR purchased 125,000 shares at a price close to $38, Fidelity said in the amendment. registration form Submitted on Friday.
“The total proceeds to the trust from the sale of seed baskets was $4,749,975.00,” according to the filing. “On June 4, 2024, the Trust purchased 1,250 ether with the proceeds from Seed Baskets.”
Fidelity’s form made no mention of fees, mirroring previous statements made by other spot Ether ETF issuers.
“Fidelity launches S-1-athon. Fees not yet included (Franklin has only 19 bps in fees so far),” said Eric Balchunas, senior ETF analyst at Bloomberg. Post posted on X on Friday. “Bitwise doesn’t have either. Everyone will be waiting until the last minute and/or BlackRock to reveal what it takes to get into orbit.”
By bit updated A registration form was filled out earlier this week and Pantera Capital Management LP disclosed that it was interested in purchasing up to $100 million in shares. Bitwise also disclosed a seed investment of $2.5 million.
SEC Approved Form 19b-4 for eight Ethereum ETFs last month. Issuers must ensure that the S-1 Statement is effective before commencing trading. Balchunas said on friday X is expected to file more amended S-1 filings.
“The SEC will then notify the issuer in court of the final changes and their effects (also known as final approval),” Balchunas said. “We are maintaining our over/under for the ETH ETF launch date at July 2nd.”
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