Financial services giant Fidelity Investments has filed an updated registration form (S-1) for a spot Ethereum ETF, fueling speculation about the imminent approval of such funds. This move follows predictions that several issuers would submit updated filings today. The updated application comes as the crypto community eagerly awaits the green light for spot Ethereum ETFs to begin trading.

Notably, Fidelity's filing did not include a sponsor fee, mirroring a trend seen in recent filings by Bitwise and BlackRock. However, Franklin Templeton bucked this trend by setting a sponsor fee at 19 bps. Bloomberg's Senior ETF Analyst Eric Balchunas suggests that the omission of fees may be a strategic move, as issuers cannot sustainably offer spot ETFs without fees.

The crypto community is abuzz with expectations of a swift approval for spot Ethereum ETF trading. Recent developments, including the resolution of the ConsenSys vs SEC investigation and the submission of S-1 amendments by major applicants, have fueled optimism. SEC Chair Gary Gensler's public statements, including his prediction of approvals "over the course of this summer," have also contributed to the enthusiasm.

Bitwise CEO Hunter Horsley has expressed his belief that spot Ethereum ETF trading will likely launch before July 4. The commitment of applicants and the recent resolution of the ConsenSys investigation have set a precedent for Ethereum's regulatory clarity, marking a significant milestone for the broader crypto industry.

In conclusion, Fidelity's updated application for a spot Ethereum ETF has added to the growing anticipation surrounding the approval of such funds. With the crypto community eagerly awaiting the green light for trading, the next few weeks are expected to be crucial in determining the timeline for spot Ethereum ETFs. As the SEC reviews the applications, the industry remains hopeful that the approvals will come soon, paving the way for a new era in crypto investing.