Asset management firm Fidelity has submitted an application for its own Ethereum exchange-traded fund (ETF), following in the footsteps of BlackRock. Fidelity’s filing with the US Securities and Exchange Commission proposes listing and trading shares of the Fidelity Ethereum Fund on the Cboe BZX Exchange. The filing argues that US retail investors lack a low-risk avenue to expose themselves to ETH, and that existing methods involve counter-party risk, legal uncertainty, and technical risk. Fidelity’s filing comes after BlackRock filed for its own spot Ether ETF, the iShares Ethereum Trust. Fidelity is the seventh firm to apply for an Ether ETF.
