United States of America: Opened consultation on the application of Fidelity to list and trade shares of the Fidelity Ethereum Fund

On 30 November 2023, the Securities and Exchange Commission (SEC) opened a consultation on Fidelity's application to list and trade shares of the Fidelity Ethereum Fund under BZX Rule 14.11(e)(4) until 21 December 2023. This proposal to list and trade shares seeks to clarify the regulatory status of the Fidelity Ethereum Fund Trust, which is neither registered as an investment company under the Investment Company Act of 1940 nor classified as a commodity pool under the Commodity Exchange Act (CEA). It outlines its monitoring, compliance, and delisting procedures in the event of non-compliance. In addition, the investment objective is defined as tracking the performance of ETH. Furthermore, the Trust is required to provide publicly available information on the Index, including the calculation of the Intraday Indicative Value (IIV) and the Net Asset Value (NAV).