Fidelity Takes On BlackRock, Readies Its Own Bitcoin ETF Filing
Major asset manager Fidelity is preparing to submit its own application for a spot bitcoin exchange-traded fund (ETF)...
- Fidelity is preparing to submit its own application for a spot bitcoin exchange-traded fund (ETF), following BlackRock's recent filing.
- Several asset managers, including Invesco, WisdomTree, Bitwise, and VacEck, have also filed applications for a spot Bitcoin ETF.
- The filing by BlackRock has sparked considerable interest and optimism in the markets.
- Fidelity's application could be filed as soon as this week and would be their second attempt at launching a spot bitcoin ETF.
- The potential launch of a spot bitcoin ETF is seen as a game-changing development, providing investors exposure to the crypto market without holding the underlying asset.
- The Securities and Exchange Commission (SEC) has rejected previous applications for spot bitcoin ETFs due to concerns about market manipulation.
- BlackRock's filing is seen as significant, as the asset manager typically files for ETFs it knows it can get approved.
- The recent ETF filings are seen as a vote of confidence for the larger crypto ecosystem.
The sentiment towards the potential launch of a spot bitcoin ETF is optimistic and seen as a game-changing development for the crypto market.