Asset management firm Fidelity has submitted an application for its own Ethereum exchange-traded fund (ETF), just days after BlackRock filed for the iShares Ethereum Trust. Fidelity’s filing proposes listing and trading shares of the Fidelity Ethereum Fund on the Cboe BZX Exchange. The filing argues that US citizens lack a low-risk avenue to expose themselves to ETH and highlights the counter-party risk, legal uncertainty, and technical risk associated with existing methods of accessing the digital asset. Fidelity suggests that if an Ether ETF had been available, losses incurred from now-defunct firms like FTX, Celsius Network, and BlockFi would be considerably lower. Fidelity is the seventh firm to apply for an Ether ETF, joining the likes of VanEck, 21Shares & ARK, Hashdex, Grayscale, and Invesco & Galaxy.
