U.S. SEC Calls for Comments on Spot ETH ETFs
The U.S. Securities and Exchange Commission has opened the window for comments on three ether spot exchange traded fund (ETF) proposals.
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The U.S. Securities and Exchange Commission has opened the window for comments on three ether spot exchange traded fund (ETF) proposals.
Money management giant Fidelity wants to allow traders of its potential ethereum fund to be able to stake some of the assets, it wrote in an amendment with the U.S. Securities and Exchange Commission (SEC).
Fidelity’s Wise Origin Bitcoin Fund (FBTC) is the fifth most popular exchange-traded fund (ETF) on the market right now, attracting more than $6.9 billion since its introduction on Jan. 12, according to data from Bloomberg Intelligence.
GBTC is expected to lose further funds to newly created ETFs unless there is a meaningful cut to its fees, the report said.
The group of recently launched spot bitcoin exchange-traded funds (ETFs) are seeing combined negative flows for the first time since they opened for trade on Jan. 11 as money moving into funds like BlackRock’s IBIT and Fidelity’s FBTC has failed to keep pace with the exits from Grayscale’s GBTC.
Experts said newcomers in the bitcoin investing game could be enticed by Grayscale, the incumbent with a huge lead.
Data about inflows is still incomplete and market watchers might have to wait until Friday evening for the full picture, Bloomberg analyst Eric Balchunas pointed out.
Spot bitcoin ETFs are launching in the U.S. on Thursday. Here’s what the issuers and exchanges behind these products have to say.
BlackRock said its fee will start at 0.20%, rising to 0.30%.
(Nikhilesh De/CoinDesk)