THELOGICALINDIAN - Fidelity Investments and SkyBridge Capital are planning Bitcoin exchangetraded funds
The U.S. Securities and Exchange Commission is reviewing two applications for Bitcoin exchange-traded funds (ETFs).
Fidelity and SkyBridge Under Examination
Based on a filing anachronous May 25, the SEC is analytical a Bitcoin ETF appeal from Fidelity Investments. Fidelity affairs to barrage an advance agent alleged the Wise Origin Bitcoin Trust.
Fidelity ahead filed abstracts accompanying to its ETF in March; that account appear the artefact would barter on Cboe’s BZX exchange.
A abstracted filing from May 21 additionally indicates that SkyBridge Capital is planning to barrage its First Trust SkyBridge Bitcoin ETF Trust. This artefact would barter on the New York Stock Exchange.
There are about ten added ETF applications beneath analysis at the SEC, according to crypto account armpit Coindesk.
No Bitcoin ETFs In the U.S. Yet
To date, no Bitcoin ETFs accept been accustomed aural the United States. Previous attempts to book a Bitcoin ETF accept been agitated out by VanEck, NYDIG, and the Winklevoss twins.
Additionally, added countries accept acceptable ETFs. In February, Canada became the aboriginal North American country to accept a Bitcoin ETF. Added advance vehicles, such as Bitcoin exchange-traded products (ETPs), accept additionally become accepted in Europe.
ETFs and ETPs acquiesce institutional investors to advance in an asset angry to the amount of Bitcoin. This prevents the charge for those investors to authority absolute Bitcoin in a cryptocurrency wallet.
Disclaimer: At the time of autograph this columnist captivated beneath than $75 of Bitcoin, Ethereum, and altcoins.
