Fidelity Takes On BlackRock, Readies Its Own Bitcoin ETF Filing

Crypto Daily
Crypto Daily

28 Jun 2023 7:52 AM

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.

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Which major asset manager is preparing to submit its own application for a spot bitcoin ETF?What has been the impact of the recent ETF filings on the price of Bitcoin?Why has the Securities and Exchange Commission rejected previous applications for spot bitcoin ETFs?What is the significance of BlackRock filing for a spot bitcoin ETF?

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