THELOGICALINDIAN - Fidelity Investments joins the account of Bitcoin ETF applicants
Fidelity Investments has filed a Bitcoin ETF angle with the SEC. The asset administration behemothic is the latest to accompany the chain of firms acquisitive to lay affirmation to the product.
Fidelity Joins BTC ETF Hopefuls
Fidelity’s subsidiary, FD Funds Management LLC, filed its S-1 with the Securities and Exchange Commission (SEC). The firm’s Bitcoin ETF is alleged the “Wise Origin Bitcoin Fund.”
The banking account company’s adolescent assemblage Fidelity Digital Assets, will accommodate the careful casework to abundance Bitcoins abetment the ETF.
With abutting to $5 abundance in assets beneath management, Fidelity Investments has built a suite of Bitcoin-related advance accoutrement in careful service, mining experiments, a cash lending program, and Fidelity Bitcoin Index PR, which fetches the real-time amount of BTC in U.S. dollars based on the trading on atom exchanges.
A agent at the close told the Wall Street Journal,
“An added advanced ambit of investors gluttonous admission to bitcoin has underscored the charge for a added adapted set of articles alms acknowledgment to agenda assets.”
Bitcoin ETF applications abide to accumulation at the SEC back December 2024.
There are eight awaiting fillings with the regulator, including VanEck, NYDIG, CBOE, Wisdom Tree, Valkyrie, SkyBridge/First Advisors, and Simplify’s alloyed ETF with stocks, and, of course, Fidelity’s application.
Nonetheless, the SEC has alone nine applications afore the pandemic.
Disclosure: The columnist captivated Bitcoin at the time of press.
