Fidelity Seeks Approval for Ethereum ETF Share Redemptions

Fidelity Investments has filed to allow its investors to sell their shares in an Ethereum ETF and receive the underlying cryptocurrency.

The move, if approved, would mark a significant shift for Fidelity as it seeks to cater to growing demand from institutional investors looking to participate in the crypto market.

The application comes as regulators continue to debate the merits of ETFs tied to cryptocurrencies, with some arguing they could increase investor exposure and others warning about potential risks.