Fidelity Ethereum Fund Amends S-1 Registration
Ticker: FETH · Form: S-1/A · Filed: Jun 21, 2024 · CIK: 2000046
Sentiment: neutral
Topics: crypto, fund-registration, sec-filing
TL;DR
Fidelity's ETH fund is one step closer to launch, filing S-1/A amendment.
AI Summary
Fidelity Ethereum Fund filed an S-1/A amendment on June 21, 2024, for its registration statement. The fund, incorporated in Delaware with IRS number 99-6342530, is managed by FD Funds Management LLC and located at 245 Summer Street, Boston, MA. This filing is a pre-effective amendment to its Form S-1, indicating progress towards its public offering.
Why It Matters
This filing is a step towards the public offering of the Fidelity Ethereum Fund, potentially increasing accessibility and investment in Ether.
Risk Assessment
Risk Level: medium — The filing pertains to a cryptocurrency fund, which carries inherent volatility and regulatory risks associated with digital assets.
Key Numbers
- 333-278249 — SEC Registration Number (Identifies the specific registration for this offering.)
- 99-6342530 — IRS Employer Identification Number (Tax identification number for the fund.)
Key Players & Entities
- Fidelity Ethereum Fund (company) — Registrant
- FD Funds Management LLC (company) — Manager
- 245 Summer Street (location) — Business Address
- Boston, MA (location) — Business Address City/State
- June 21, 2024 (date) — Filing Date
- 333-278249 (registration_number) — SEC Registration Number
- Morrison C. Warren (person) — Legal Counsel
- Chapman and Cutler LLP (company) — Legal Counsel Firm
FAQ
What type of filing is this S-1/A amendment?
This is a Pre-Effective Amendment No. 3 to a Form S-1 Registration Statement.
When was this amendment filed with the SEC?
The filing date was June 21, 2024.
What is the principal business address of the registrant?
The principal business address is 245 Summer Street, V13E, Boston, MA 02210.
Who is listed as legal counsel for the registrant?
Morrison C. Warren, Esq. from Chapman and Cutler LLP is listed as counsel.
What is the state of incorporation for the Fidelity Ethereum Fund?
The Fidelity Ethereum Fund is incorporated in Delaware.
Filing Stats: 4,665 words · 19 min read · ~16 pages · Grade level 14 · Accepted 2024-06-21 11:23:33
Key Financial Figures
- $40 — rchased 1 Share at a per-Share price of $40 (the Seed Share). Delivery of the Seed
- $37.9998 — 125,000 Shares at a per-Share price of $37.9998 (the Seed Baskets). Total proceeds to t
- $4,749,975.00 — from the sale of the Seed Baskets were $4,749,975.00. On June 4, 2024, the Trust purchased 1
- $18 million — d August 2014 that raised approximately $18 million which was used to fund the development
Filing Documents
- d759655ds1a.htm (S-1/A) — 831KB
- d759655dex31.htm (EX-3.1) — 253KB
- d759655dex51.htm (EX-5.1) — 10KB
- d759655dex81.htm (EX-8.1) — 17KB
- d759655dex1041.htm (EX-10.4_(1)) — 13KB
- d759655dex106.htm (EX-10.6) — 17KB
- d759655dex231.htm (EX-23.1) — 2KB
- g759655chapman.jpg (GRAPHIC) — 6KB
- g759655g0529212134192.jpg (GRAPHIC) — 4KB
- g759655g0619040127057.jpg (GRAPHIC) — 3KB
- g759655g0619040127306.jpg (GRAPHIC) — 4KB
- g759655g75r89.jpg (GRAPHIC) — 3KB
- g759655g81a62.jpg (GRAPHIC) — 3KB
- filename15.htm (COVER) — 5KB
- 0001193125-24-165322.txt ( ) — 1179KB
RISK FACTORS
RISK FACTORS 23 THE TRUST AND ETHER PRICES 68 CALCULATION OF NAV 71 ADDITIONAL INFORMATION ABOUT THE TRUST 72 THE TRUSTS SERVICE PROVIDERS 76 CUSTODY OF THE TRUSTS ASSETS 78 TRANSFER OF SHARES 80 SEED CAPITAL INVESTOR 81 PLAN OF DISTRIBUTION 81 CREATION AND REDEMPTION OF SHARES 83
USE OF PROCEEDS
USE OF PROCEEDS 88 88 CONFLICTS OF INTEREST 89 DUTIES OF THE SPONSOR 90 LIABILITY AND INDEMNIFICATION 92 PROVISIONS OF LAW 94 BOOKS AND RECORDS 95 96 FISCAL YEAR 96 GOVERNING LAW; CONSENT TO DELAWARE JURISDICTION 96 LEGAL MATTERS 96 EXPERTS 97 MATERIAL CONTRACTS 97 UNITED STATES FEDERAL INCOME TAX CONSEQUENCES 103 PURCHASES BY EMPLOYEE BENEFIT PLANS 107 INFORMATION YOU SHOULD KNOW 108 INTELLECTUAL PROPERTY 108 WHERE YOU CAN FIND MORE INFORMATION 109 PRIVACY POLICY 109 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 110 Table of Contents This Prospectus contains information you should consider when making an investment decision about the Shares of the Trust. You may rely on the information contained in this Prospectus. The Trust and the Sponsor have not authorized any person to provide you with different information and, if anyone provides you with different or inconsistent information, you should not rely on it. This Prospectus is not an offer to sell the Shares in any jurisdiction where the offer or sale of the Shares is not permitted. The Shares of the Trust are not registered for public sale in any jurisdiction other than the United States. i Table of Contents This Prospectus includes forward-looking statements that generally relate to future events or future performance. In some cases, you can identify forward-looking statements by terminology such as may, will, should, expect, plan, anticipate, believe, estimate, predict, potential or the negative of these terms or other comparable terminology. All statements (other than statements of historical fact) included in this Prospectus that address activities, events or developments that will or may occur in the future, including such matters as movements in the digital asset mark