Amidst ‘Accelerating Demand Among Institutions,’ Fidelity Joins The Race to Launch A Bitcoin ETF

2021-3-25 15:46

Fidelity has become the latest one to apply for a Bitcoin exchange-traded fund (ETF).

According to the preliminary filing with the US Securities and Exchange Commission (SEC), Fidelity’s Wise Origin Bitcoin Trust would be holding Bitcoin. Fidelity, in a statement, said,

“The digital assets ecosystem has grown significantly in recent years, creating an even more robust marketplace for investors and accelerating demand among institutions. An increasingly wide range of investors seeking access to bitcoin has underscored the need for a more diversified set of products offering exposure to digital assets.”

The race to launch a Bitcoin ETF continues to see more and more participants competing. Earlier this week, former Trump administration White House communications director Anthony Scaramucci jumped in with his SkyBridge Capital joining forces with First Trust Advisors.

VanEck, Kryptoin, Valkyrie, NYDIG, and Wisdom Tree have already filed their applications.

Fidelity Service Company would be serving as an administrator while the asset manager’s crypto-focused Fidelity digital Assets will act as the custodian.

The shares of the ETF would be using exchanges like Bitstamp, Coinbase, Gemini, itBit, and Kraken, for the underlying prices.

“The Trust provides investors with the opportunity to access the market for bitcoin through a traditional brokerage account without the potential barriers to entry or risks involved with holding or transferring bitcoin directly, acquiring it from a bitcoin spot market, or mining it,” notes the filing.

This application comes a month after the first-ever Bitcoin ETF was launched in Canada.

Wealth Managers Are Growing ‘Comfortable’ with Crypto But Still in ‘Education Mode’ says Fidelity Bitcoin Exchange Guide News Team March 25, 2021 New Poll Reveals 7% of Americans Plan to Invest Their Stimulus Checks in Cryptocurrencies AnTy March 19, 2021 “Very Significant Demand for Digital Assets,” says BNY Mellon Investing in Crypto Custody Startup, Fireblocks AnTy March 19, 2021 Bitcoin/USD BTCUSD 51,874.9986 -$4,684.31 -9.03% Volume 80.48 b Change -$4,684.31 Open$51,874.9986 Circulating 18.66 m Market Cap 968.19 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=BTC&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~BTC~USD"); The post Amidst ‘Accelerating Demand Among Institutions,’ Fidelity Joins The Race to Launch A Bitcoin ETF first appeared on BitcoinExchangeGuide.

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bitcoin fidelity etf exchange securities preliminary filing

Источник: bitcoinexchangeguide.com

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