Asset management giant Fidelity discloses $4.7 million seed investment in Ethereum ETF: SEC filing
Quick Take
- FMR Capital, Inc., an affiliate of Fidelity, bought 125,000 shares at a price close to $37 each in June, according to the amended SEC filing.
- Issuers still need their S-1 statements to become effective before trading can begin.
Asset management behemoth Fidelity disclosed a $4.7 million seed investment in its latest amended filing for its spot Ethereum 
ETH
+3.43%
exchange-traded fund.
FMR Capital, Inc., an affiliate of Fidelity, bought one share for $40 in late May. Later, on June 4, FMR bought 125,000 shares at a share price of close to $38, Fidelity said in its amended registration form filed on Friday.
"Total proceeds to the Trust from the sale of the Seed Baskets were $4,749,975.00," according to the filing. "On June 4, 2024, the Trust purchased 1,250 ether with the proceeds of the Seed Baskets."
A mention of fees was absent in Fidelity's form, echoing previous statements released by other spot Ether ETF issuers.
"Fidelity kicking off the the S-1-athon. No fee included yet tho (Franklin only one w fee so far at 19bps)," said Bloomberg Senior ETF Analyst Eric Balchunas on Friday on a post on X. "Bitwise didn’t include either. Everyone likely waiting till last min and/or on BlackRock to disclose to see what they need to orbit around."
Bitwise updated its registration form earlier this week and disclosed that Pantera Capital Management LP was interested in buying up to $100 million of shares. Bitwise also disclosed a $2.5 million seed investment.
The SEC approved 19b-4 forms for eight Ethereum ETFs last month. Issuers still need their S-1 statements to become effective before trading can begin. Balchunas said on Friday on X that more amended S-1 filings are expected to be filed.
"Then ball's in SEC's court to let issuers know about any final changes and effectiveness (aka final approval)," Balchunas said. "We holding the line with July 2nd as our over/under for eth ETFs launch date."
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