Massive asset management company In its most recent amended filing, Fidelity revealed a $4.7 million initial investment for its spot Ethereum exchange-traded fund.
An affiliate of Fidelity, FMR Capital, Inc., purchased one share in late May for $40. FMR later purchased 125,000 shares on June 4 at a price per share of about $38, according to information in Fidelity’s updated registration form, which was submitted on Friday.
The filing states, “Total proceeds to the Trust from the sale of the Seed Baskets were $4,749,975.00.” “On June 4, 2024, the Trust purchased 1,250 ether with the proceeds of the Seed Baskets.”
Fidelity’s form contained no mention of fees, consistent with other declarations made by other spot Ether ETF issuers.
“The S-1-athon is being kicked off by Faithful. “No fee included yet, though (Franklin only one w fee so far at 19bps),” said Eric Balchunas, a senior ETF analyst at Bloomberg, on X on Friday. Neither was included by Bitwise. Everyone is likely waiting until the final minute or until BlackRock discloses to find out what they need to revolve around.”
Earlier this week, Bitwise said that Pantera Capital Management LP was considering purchasing up to $100 million worth of shares in an update to its registration form. Additionally, Bitwise revealed a $2.5 million seed investment.
Eight Ethereum ETFs had their 19b-4 forms certified by the SEC last month. Before trading may start, issuers must still wait for their S-1 statements to become effective. Balchunas stated on X on Friday that additional modified S-1 filings are anticipated.
“Then the ball’s in SEC’s court to let issuers know about any final changes and effectiveness (aka final approval),” Balchunas stated. “We holding the line with July 2nd as our over/under for the ETFs launch date.”
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