Fidelity, an asset management firm overseeing $4.5 trillion in assets, has become the latest firm to seek approval for a spot Ethereum (ETH) exchange-traded fund (ETF).

In a filing submitted to the United States Securities and Exchange Commission (SEC) on November 17, Fidelity proposes to list and trade shares of the Fidelity Ethereum Fund on the Cboe BZX Exchange.  

“According to the Registration Statement, each Share will represent a fractional undivided beneficial interest in the Trust’s net assets. The Trust’s assets will consist of ETH held by the Custodian on behalf of the Trust.”

Update: @Fidelity joins the spot #ethereum ETF race by filing a 19b-4 with @CBOE…

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Fidelity filed a 19b-4 application with the Securities and Exchange Commission late Friday for an ethereum ETF.

According to the filing, the proposed rule change names the fund the Fidelity Ethereum Fund. The 19b-4 was filed with CBOE.

A 19b-4 is a rule change form required by the SEC.

“The investment objective of the Trust is to seek to track the performance of ETH, as measured by the performance of the Fidelity Ethereum Index…In seeking to achieve its investment objective, the Trust will hold ETH,” the filing said. 

Fidelity’s proposed ETH fund comes a week after BlackRock also filed a 19b-4 for an ether ETF. Since then, BlackRock has submitted an S-1 with the SEC, paving the…

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Stablecoins lack crucial mechanisms that guarantee money market stability in fiat, and an operational model that gave regulatory control to a central bank would be superior to private stablecoin, a study released by the Bank for International Settlements (BIS) found.

The authors used a “money view” of stablecoin and an analogy with onshore and offshore USD settlement to probe the weaknesses of stablecoin settlement mechanisms. 

Per the study:

“In both Eurodollar and FX markets, when private bank credit reaches the limits of its elasticity [that is, loses the ability to maintain par], central bank credit steps in, with the ultimate goal of protecting par in global dollar… Read more on Cointelegraph

The Securities and Exchange Commission has filed to delay a decision on the Franklin bitcoin ETF’s proposed rule change. 

The fund proposed would be a “series” in the Franklin Templeton Digital Holdings Trust, which is — of course — part of Franklin Templeton.

The filing, which is dated November 15, did not appear on the SEC’s website until late Friday.

The Commission had until Friday to delay or make a decision to accept or reject the application; a delay was expected after the regulator delayed proposed rule changes from Hashdex and Global X earlier this week.

Franklin’s proposed rule change was officially published for comment in the Federal Register back in October,…

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As the final weeks of 2023 approach, it’s fair to say that one of the most dominant trends and drivers of crypto companies’ strategies over the past months can be summed up in a single word: licenses. 

In a tight regulatory environment, getting the green light from regulators has been crucial for companies, particularly during the crypto winter.

Some countries have taken a stand by developing a crypto-friendly environment. For example, the United Arab Emirates continues to attract major crypto companies to its shores, with digital assets exchange Crypto.com recently receiving a Virtual Assets Service Provider (VASP) license in Dubai. The license allows Crypto.com’s local business…

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Dogecoin DOGE/USD shot up over 10% at one point during Friday’s 24-hour trading session after the crypto announced its physical representation will be taken to the moon aboard the Peregrine Lunar Lander, owned by space robotics technology company, Astrobotic.

Bullish sentiment rushed into Dogecoin following the news, despite Bitcoin BTC/USD and Ethereum ETH/USD continuing to consolidate mostly flat.

The crypto sector has enjoyed a surge in prices recently, with the Security and Exchange Commission appearing close to approving one or more spot Bitcoin ETFs.

Bitcoin’s and Ethereum’s respective 41% and 38% increases between Oct. 15 and Nov. 9 caused the cryptos to fly into overbought…

Read more on Benzinga

The prospect of a spot Bitcoin (BTC) exchange-traded fund (ETF) being approved soon in the United States has increased demand for the major cryptocurrency, leading to a surge in transaction fees.

The Bitcoin blockchain reached $11.6 million in fees paid on Nov. 16 according to statistics from CryptoFees. At the time of writing, YCharts data shows that the average transaction fee is $18.69, up 113% from the previous day and 746% from the year ago level.

Bitcoin transaction fees between January 2023 and November 2023. Source: CryptoFees

According to Cointelegraph’s market analysis, Bitcoin remains near 18-month highs and beyond its bear market trading range. At the time of writing, the…

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The Securities and Exchange Commission delayed a decision on the Global X Bitcoin Trust 19b-4 rule change on Friday.

The expected delay follows a slew of similar delays this week. The SEC has delayed proposed rule changes for both ether and bitcoin spot ETF rule changes.

The Commission previously delayed a decision back on Sept. 26 due to concerns at the time of a government shutdown. The SEC had a deadline of Nov. 21 to delay, greenlight or reject the Global X filing. 

The filing opens up a comment period on the application which is expected to last 35 days after it is published in the Federal Register. 

Bloomberg analyst James Seyffart pointed out in a post on X that the delay was…

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.

A new DeFi report has highlighted that a significant amount of crypto lost to exploits was due to traditional Web2 flaws and security issues, such as centralization of information, which makes it easier to exploit.

Decentralized exchange (DEX) platform Sushi is set to begin testing for Bitcoin (BTC) swaps on 30 blockchains using the interoperability platform ZetaChain.

The two founders of the Opyn DeFi protocol have stepped down from their respective positions in the company and announced their intention…

Read more on Cointelegraph

Equities traded sideways while cryptos were mixed Friday morning, rounding out a tumultuous week for markets across the board. 

Bitcoin (BTC) gained as much as 1% Friday afternoon while ether (ETH) dipped into the red, posting a 1.6% loss. Stocks were trading almost completely flat, extending their sideways movement from Thursday. 

Bitcoin’s rally, which has seen the largest crypto gain close to 30% in the past month, has largely been attributed to optimism that the US Securities and Exchange Commission will soon green light a BTC exchange-traded fund. 

The speculation continued Friday when Bloomberg Intelligence ETF analyst Eric Balchunas posted on X that he’d heard the…

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