The world’s fourth-largest asset manager has promised to seed its upcoming Ethereum ETF with $4.7 million ahead of launch, according to a regulatory filing.The proceeds were used to buy ETH on June 4, securing 1,250 ETH at the time. They were bought by FMR Capital – an affiliate of Fidelity – securing the asset manager 125,000 shares for $38 each.
Earlier this week, Bitwise’s registration statement said it had seeded its Ethereum ETF with $2.5 million, and also disclosed that Pantera Capital Management may be willing to buy $100 million worth of shares. Shortly after Fidelity, BlackRock revealed that it would seed its funds with $10 million, matching its initial investment in the Bitcoin fund.
Experts suspect other providers will reveal their fee as the launch date approaches. Bloomberg ETF analyst Eric Balchunas recently called July 2 his best estimate for when the funds will go live.
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