Fidelity’s spot ether ETF appears on DTCC under ticker FETH

Fidelity Investments' U.S. spot ethereum exchange-traded fund has been added to the Depository Trust and Clearing Corporation’s list of ETFs. 

The fund, named Fidelity Ethereum FD Beneficial INT, was included on the list under the ticker FETH. DTCC designated the ETF as a domestic fund, while under the create/redeem column, FETH was marked as “N,” which appears to indicate that it is not yet active.  

“This file includes both active ETFs that may be processed at DTCC and ETFs that are not yet active ("pre launch") and, therefore, are not able to be processed at DTCC, unless and until such securities have received all necessary regulatory and other approvals,” the DTCC noted.

The DTCC has so far included proposed spot ether ETFs from VanEck, Franklin Templeton and BlackRock to its list of ETFs. However, the SEC-registered securities clearing corporation previously told The Block that the addition to its list is “standard practice” and is not indicative of a potential regulatory approval.

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Last week, the U.S. Securities and Exchange Commission approved eight 19b-4 forms for spot ether ETFs from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark Invest, Invesco Galaxy and Franklin Templeton. With this preliminary approval, the firms are still required to have their S-1 registration statements approved by the regulator for the funds to go live.

Fidelity filed its amended S-1 form last week, while BlackRock, whose spot bitcoin ETF recently became the largest of its kind, filed its amended registration statement on Wednesday.