Fidelity Takes The Leap: Prepares Spot Bitcoin ETF Filing

2023-6-27 18:48

Fidelity, one of the largest asset managers in the world, is reportedly preparing to submit its filing for a spot Bitcoin (BTC) exchange-traded fund (ETF). 

According to an anonymous source cited by The Block, the filing could be submitted as early as Tuesday. This move would put Fidelity in the growing race to launch a spot Bitcoin ETF, which was triggered by BlackRock’s filing earlier this month. 

Bitcoin ETF Race Heats Up Amidst Growing Institutional Interest

Fidelity’s interest in a spot BTC ETF is not new. The company filed for a similar product, the Wise Origin Bitcoin Trust, in 2021, but it was denied by the United States Securities and Exchange Commission (SEC) in early 2022. 

The SEC has been hesitant to approve BTC ETFs in the past, citing concerns about market manipulation and lack of regulation in the cryptocurrency market. 

However, the recent surge in interest from large asset managers like Fidelity and BlackRock suggests that the demand for such a product is growing, and could potentially lead to a shift in the SEC’s stance. Other asset managers, including Invesco, WisdomTree, and Bitwise, have also filed for spot bitcoin ETFs in recent weeks.

If approved, a spot BTC ETF would allow investors to gain exposure to Bitcoin without having to purchase the cryptocurrency directly. Instead, they would be able to buy and sell shares of the ETF on a regulated exchange like the New York Stock Exchange.

For now, it remains to be seen whether the SEC will approve any of the pending filings for spot bitcoin ETFs, but the growing interest from large asset managers suggests that the demand for such a product is only increasing.

At the time of writing, Bitcoin, the largest cryptocurrency in the market, is trading at $30,800 and has recorded a gain of 1.3% over the past 24 hours. It is uncertain whether Bitcoin will be able to break through its nearest resistance level at $31,500, or if it will enter another prolonged period of consolidation before making a significant move in either direction.

Featured image from Unsplash, chart from TradingView.com 

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Cryptospot Token (SPOT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 SPOT

filing etf fidelity bitcoin spot source cited

Источник: bitcoinist.com

filing etf → Результатов: 126


WisdomTree submits new filing for spot Bitcoin ETF

WisdomTree has submitted a filing through which it intends to gain approval from the U.S. Securities and Exchange Commission for a spot Bitcoin exchange-traded fund (ETF). WisdomTree describes its proposed investment vehicle, named WisdomTree Bitcoin Trust, as an ETF that would be listed on the Cboe BZX exchange under the ticker label BTCW, according to […] The post WisdomTree submits new filing for spot Bitcoin ETF appeared first on CryptoSlate.

2023-6-21 02:33


BlackRock files for spot Bitcoin ETF; Coinbase to serve as custodian for BTC holdings

BlackRock, one of the world’s largest asset managers, has filed plans with the U.S. Securities and Exchange Commission to create a spot Bitcoin ETF through its iShares subsidiary. The news comes after reports earlier in the day that the investment giant, which has more than $9 trillion in assets under management, was close to filing […] The post BlackRock files for spot Bitcoin ETF; Coinbase to serve as custodian for BTC holdings appeared first on CryptoSlate.

2023-6-16 00:50


BlackRock Edges Closer To Bitcoin ETF Filing: Bullish Impact On BTC’s Price?

Per a Coindesk report, BlackRock, the world’s largest asset manager, is reportedly getting closer to filing an application for a Bitcoin (BTC) Exchange-Traded Fund (ETF) in the United States.  According to an anonymous source familiar with the matter, the company will use Coinbase (COIN) Custody for the ETF and the cryptocurrency exchange’s spot market data […]

2023-6-15 17:10


21Shares, Cathie Wood’s ARK Investment believe ‘Persistence will pay off’ in 3rd filing for spot Bitcoin ETF

Swiss-based fintech company 21Shares confimed a Bloomberg report that it has partnered with Cathie Wood-founded ARK Investment Management to refile for a spot-Bitcoin exchange-trade fund (ETF). Despite two previous filing rejections, 21Shares told CryptoSlate: “It may be a protracted effort but we believe persistence will eventually pay off and the winners will be American investors.

2023-4-26 23:32


Фото:

Invesco drops Bitcoin ETF over exclusive exposure to futures

Invesco, the US fund managing assets worth $1. 6 trillion, ultimately decided against a filing for a Bitcoin (BTC/USD) futures exchange-traded fund (ETF). According to Invesco’s global head of ETFs and indexed strategies Anna Paglia, the main reason they dropped the filing was that the SEC approved only Bitcoin ETFs with exclusive exposure to Bitcoin futures.

2021-11-23 16:47


ProShares CEO says Bitcoin Futures ETF Coming on Tuesday, Grayscale Confirms Filing to Convert GBTC into ETF

In anticipation of the first Bitcoin ETF, which will finally be coming to the US this week, Bitcoin hit $63,000. ProShares will be launching its exchange-traded fund (ETF) linked to CME-based Bitcoin futures on the New York Stock Exchange (NYSE) under the ticker ‘BITO’ on Tuesday, the firm and the exchange have reported.

2021-10-18 17:35


Cathie Wood’s Ark Throws its Hat in the Bitcoin Futures ETF Ring, Valkyrie Updates Prospectus for Potential Approval This Month

Cathie Wood had joined the race of Bitcoin Futures exchange-traded fund (ETF) with its ARK 21Shares Bitcoin Futures Strategy ETF (ARKA). The ETF plans to invest Bitcoin futures contracts on commodity exchanges, according to a filing with the Securities and Exchange Commission (SEC).

2021-10-14 15:31


BlockFi Joins the Bitcoin Futures ETF Race Which Experts Predict Is Coming to Fruition This Month

Crypto lender BlockFi is the latest one to file for a bitcoin futures exchange-traded fund (ETF). This week, the company filed for a fund called “BlockFi Bitcoin Strategy ETF” that would not invest directly in Bitcoin, rather in futures contracts traded on the regulated derivatives exchange CME, according to the regulatory filing.

2021-10-9 19:18


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Crypto market cap surpasses the $2.5t mark following CPI data

The global cryptocurrency market capitalization has recorded an impressive momentum after the U.S. Consumer Price Index (CPI) report was released. Notably, the US CPI for April increased by 3.4% over the past year, crypto.news reported. In March, the CPI reached…

ABT token surges 26% to hit new all-time high

ArcBlock’s native token, ABT, has seen a significant surge in its market value, with a 26% rise over the last 24 hours, pushing the token to a new all-time high of $3.92. The latest surge in trading volume, which reached $31.8…

Q1 CoinShares most successful quarter in history with revenue up 216%

European crypto asset manager CoinShares has revealed that its revenue in Q1 increased by 216% since last year, with total comprehensive income increased by elevenfold. CoinShares, a European digital asset manager and crypto research firm, saw its “strongest quarter ever”…

Chinese authorities arrest six suspects in $300m crypto fraud case

Authorities in China have arrested six individuals suspected of engaging in illicit cryptocurrency transactions amounting to 2.94 billion yuan — worth roughly $300 million. According to a May 10 report by local media outlet Chinanews, the suspects were taken into…

Celsius (CEL) rallies 360% following massive token burn

The native token of the now-defunct Celsius Network, CEL, has recorded an impressive price surge following its massive token burn. On-chain data shows that Celsius burned over 94% of its total supply on April 30 — plunging from 695.65 million…