Breaking: Fidelity Files Updated Spot Ethereum ETF S-1

Financial services giant Fidelity Investments has just filed an updated spot Ethereum ETF S-1 registration form. As projected earlier, the majority of the prospective spot Ethereum issuers are expected to file these updates today.,The Fidelity Investments S-1 updated filing comes amid growing speculation regarding the greenlight for spot Ethereum ETFs to commence trading. Bloomberg’s Senior ETF Analyst Eric Balchunas spotted one major omission in Fidelity’s filing.,The asset manager failed to include a sponsor fee. As Balchuna noted, the recent filing from Bitwise and BlackRock did not also include fees in what many might construe as a trend.,However, Franklin Templeton bucked the trend when it sets its sponsor fee at 19 bps.,,Since most of these issuers cannot offer the spot ETF without fees perpetually, Balchunas suggested that the wait is probably for the last day of S-1 updates.,On the timeline for the approval of spot Ethereum ETF trading, the crypto community is quite expectant and hopes that it happens very soon. Recent occurrences have caused many to project that the approval will come within the next three weeks or before July 2 precisely. First is the ConsenSys vs SEC investigation resolution which has left many in awe.,The Commission suddenly decided to toss aside the 14-months old Ethereum 2.0 investigation. This sets a precedent for Ethereum’s regulatory clarity and marks a milestone for the broad crypto industry.,There is also the commitment of the applicants in submitting their S-1 amendments. Bitwise, BlackRock and now Fidelity have all submitted their individual amendments, leaving the “ball” in the court of the SEC.  ,Some of SEC Chair Gary Gensler‘s public statements have also influenced expectations regarding the approval timeline for Ethereum ETFs. He once mentioned that approvals for such products are expected “over the course of this summer. Bitwise CEO Hunter Horsley also believes that spot Ethereum ETF trading will likely launch before July 4.,Read More: Meme Coins To Buy With 10,000% Potential Millennials & Gen Z Are Flocking To, ,