blockworks.co
Fidelity filed a 19b-4 application with the Securities and Exchange Commission late Friday for an ethereum ETF.
According to the filing, the proposed rule change names the fund the Fidelity Ethereum Fund. The 19b-4 was filed with CBOE.
A 19b-4 is a rule change form required by the SEC.
“The investment objective of the Trust is to seek to track the performance of $ETH, as measured by the performance of the Fidelity Ethereum Index…In seeking to achieve its investment objective, the Trust will hold $ETH,” the filing said.
Fidelity’s proposed $ETH fund comes a week after BlackRock also filed a 19b-4 for an ether ETF. Since then, BlackRock has submitted an S-1 with the SEC, paving the way for the Commission to make a decision on the fund. BlackRock’s fund would be listed on Nasdaq.
Read more: SEC delays yet another bitcoin ETF rule change
Fidelity is also in the running for a spot bitcoin ETF, having re-upped its bid for that fund back in June. The SEC has yet to make a decision on whether it will greenlight any spot bitcoin ETFs, having recently delayed a few with November deadlines, including Franklin Templeton, Hashdex and Global X.
BlackRock is also in the running for a spot bitcoin ETF, which has led many to believe that the SEC is considering greenlighting the ETFs. BlackRock has a long history of approvals with the SEC.
In October, the Depository Trust and Clearing Corporation listed BlackRock’s proposed ETF on its site, leading eagle-eyed ETF watchers to believe that the asset manager was close to receiving regulatory approval.
However, the DTCC later told Blockworks that the move was not indicative of a pending approval.