HedgeCo.Net — Fidelity’s plan to stake the ether in its $898 million FETH fund and pay quarterly cash distributions would turn one of the largest U.S. spot ether products into a yield-bearing wrapper, compressing a return stream that crypto hedge funds and digital-asset managers have long sold as an alternatives edge.
A pre-effective amendment to FETH’s registration statement, filed with the Securities and Exchange Commission on August 11, discloses that under normal conditions the trust may...
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