Ethereum

Coin

<ul class="news-points"> 
 <li>Fidelity revised its S-1 application for a Spot Ethereum ETF, opposing the staking of underlying Ether (ETH).</li> 
 <li>Analyst Eric Balchunas raised the approval probability to 75%.</li> 
 <li>Other applicants, like Ark 21Shares, are also removing staking clauses from their filings.</li> 
</ul> 
Fidelity has revised its S-1 application to the SEC for its spot Ethereum ETF proposal. The amended application submitted close to the May 23 deadline opposes the staking of ETF’s underlying Ether (ETH). This move tackles issues surrounding the security and regulations of staking activities. 
For clarity, the S-1 filing is a registration requirement by the SEC to launch publicly traded securities in the U.S. The filling ensures that entities maintain transparency and align with federal regulations. 
According to reports, Fidelity’s application review and update followed speculations that the SEC might revise its stand on Ethereum ETFs stemming from political pressure. As a result, the regulator has asked the applicant for an amended 19b-4 filing detailing the operations of the proposed ETFs. 
Meanwhile, the SEC will decide on VanEck’s Spot Ethereum ETF proposal on May 23. As expected, this w…
The post <a href="https://coinedition.com/fidelity-amends-ethereum-etf-application-to-address-sec-concerns/">Fidelity Amends Ethereum ETF Application to Address SEC Concerns</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Fidelity Amends Ethereum ETF Application to Address SEC Concerns

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