Breaking: $4 Trillion Giant Fidelity Refiles for Spot Bitcoin ETF

U.Today
U.Today

29 Jun 2023 5:36 PM

This filing bears a striking resemblance to those submitted by BlackRock and ARK Invest, suggesting a growing consensus on the strategic approach to gaining SEC approval...

  • Fidelity, with $4 trillion in assets, has refiled for a Bitcoin ETF under the name "Wise Origin Bitcoin Trust."
  • The filing bears similarities to those submitted by BlackRock and ARK Invest, indicating a growing consensus on the strategic approach to gaining SEC approval.
  • The Surveillance Sharing Agreement (SSA) language in Fidelity's filing is identical to ARK's filings and shows similarities to BlackRock's submission.
  • There are no set dates for deadlines on the recent refiling or for similar filings from BlackRock.
  • The filings from BlackRock, Fidelity, and ARK Invest raise questions about potential signals from the SEC regarding Bitcoin ETF approval.
  • SEC Chair Gary Gensler faces the challenge of regulating the rapidly evolving cryptocurrency market.

The article highlights the increasing adoption of cryptocurrencies by traditional finance, with major players like Fidelity, BlackRock, and ARK Invest filing for Bitcoin ETFs. The use of similar strategies in the filings suggests a growing consensus and potential approval from the SEC. However, the lack of set deadlines raises uncertainty. Overall, the sentiment is cautiously optimistic.

Go to publisher site

You May Ask

Which company has officially refiled for a Bitcoin ETF?What is the significance of the Surveillance Sharing Agreement (SSA) language in the filings?Are there any set deadlines for the recent refiling or similar filings from BlackRock?What questions do the filings from BlackRock, Fidelity, and ARK Invest raise?What challenge does SEC Chair Gary Gensler face in relation to the cryptocurrency market?

Suggested Reads