Fidelity Investments, one of the world’s largest asset managers, has announced that it is partnering with BlackRock to launch an Ethereum exchange-traded fund (ETF). The ETF will be listed on the London Stock Exchange and will track the performance of the Ethereum blockchain.

The ETF will be the first of its kind and will provide investors with an easy way to gain exposure to the Ethereum blockchain. It will be managed by BlackRock, a leading provider of asset management services. The ETF will be based on the Ethereum price index, which is calculated by taking into account the prices of Ethereum across multiple exchanges.

The ETF is expected to provide investors with a low-cost and efficient way to gain exposure to the Ethereum blockchain. It will also provide investors with a way to diversify their portfolios and gain exposure to a new asset class.

The launch of the ETF is part of Fidelity’s broader strategy to expand its offerings in the cryptocurrency space. The company has recently launched a cryptocurrency trading platform and is also exploring other opportunities in the space.

The launch of the ETF is seen as a major milestone for the cryptocurrency industry as it provides a way for institutional investors to gain exposure to the Ethereum blockchain. It is also seen as a sign that the cryptocurrency industry is maturing and becoming more mainstream.

Overall, the launch of the Ethereum ETF in partnership with BlackRock is seen as a positive development for the cryptocurrency industry. It provides investors with an easy and cost-effective way to gain exposure to the Ethereum blockchain and could help spur further adoption of cryptocurrencies in the mainstream financial markets.