Fidelity Has Made Updates To Its Ethereum Etf Application.

Fidelity has made the necessary updates to its Ethereum ETF application in response to the U.S. Securities and Exchange Commission's (SEC) request.

Fidelity has submitted a revised S-1 form to the U.S. Securities and Exchange Commission (SEC) for a spot Ether exchange-traded fund (ETF). In this update, it was stated that the Ether tokens to be included under the ETF will not be staked. The S-1 form is the official registration document required by the SEC for the public offering of securities in the United States.

This application update came as a result of the SEC's change in approach to spot Ether ETFs due to political pressures and its request for issuers to update their 19b-4 forms. The deadline for the SEC to respond to the Ether ETF application submitted by VanEck has been set for May 23, 2024.

Bloomberg ETF analyst Eric Balchunas raised the approval probability from 25% to 75%, but this probability applies only to the 19b-4 form. On the other hand, Bloomberg ETF analyst James Seyffart stated in a social media post dated May 20 that the S-1 applications of Ether ETF issuers also need to be approved. Seyffart noted that the process of obtaining S-1 approvals could take weeks or months, but if these approvals are obtained quickly, it would indicate that S-1 approvals are a matter of "when," not "if."

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