The US Securities and Exchange Commission (SEC) has published the application for a spot Ether exchange-traded fund (ETF) from Fidelity Strategic Advisers LLC for public comment.
The application, which was published on April 9, seeks permission from the SEC to list and to trade shares of the “Fidelity Digital Assets Ether Fund” on the NYSE Arca exchange.
Fidelity had previously announced on March 4 that the company had applied for the ETF that would grant investors access to the second-largest cryptocurrency by market capitalization.
At the time of the filing, the asset manager said that the investment product’s shares would be physically-backed by Ether, meaning that the ETF shares could be redeemed at any time by underlining custodian.
The Financial Industry Regulatory Authority (FINRA) approved the application for Fidelity’s ETF on April 6, setting the stage for the SEC to reach a decision. The major U.S. financial regulator has since then published Fidelity’s application and asked the public to comment by May 10.
