Fidelity Ethereum Fund Amends S-1 Registration

TL;DR

Fidelity's ETH fund is one step closer to launch, filing another amendment with SEC.

AI Summary

Fidelity Ethereum Fund filed an S-1/A amendment on July 8, 2024, for its registration statement (No. 333-278249). The fund, incorporated in Delaware, is managed by FD Funds Management LLC and located at 245 Summer Street, Boston, MA. This filing is a pre-effective amendment, indicating ongoing preparations for its public offering.

Why It Matters

This amendment signals Fidelity's continued progress in launching its Ethereum-based investment product, potentially impacting the cryptocurrency investment landscape.

Risk Assessment

Risk Level: medium — The filing pertains to a new cryptocurrency-related investment product, which carries inherent volatility and regulatory risks.

Key Numbers

• 333-278249 — SEC File Number (Registration number for the Fidelity Ethereum Fund)

Key Players & Entities

• Fidelity Ethereum Fund (company) — Registrant
• July 8, 2024 (date) — Filing date
• 333-278249 (registration_number) — SEC Registration Number
• FD Funds Management LLC (company) — Manager
• 245 Summer Street, Boston, MA (address) — Principal Executive Offices
• Morrison C. Warren, Esq. (person) — Legal Counsel
• Chapman and Cutler LLP (company) — Legal Firm

FAQ

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) — 832KB
• 0001193125-24-176355.txt ( ) — 833KB

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

View Full Filing

View this S-1/A filing on SEC EDGAR