Bitcoin ETFs: A Growing TradFi Craze

BeInCrypto
BeInCrypto

27 Jun 2023 7:00 PM

Fidelity Investments is reportedly readying for a Bitcoin exchange traded fund (ETF) amid growing TradFi interest....

  • Fidelity Investments is finalizing its application for a Bitcoin exchange-traded fund (ETF).
  • The ETF will track the price of Bitcoin, allowing investors to trade shares representing ownership in the cryptocurrency.
  • Other financial behemoths, such as BlackRock, Invesco, and WisdomTree, have also submitted applications for Bitcoin exchange-traded funds.
  • Circle's CEO, Jeremy Allaire, expects Bitcoin ETF applications to gain approval as providers address regulator's concerns.
  • The industry believes institutional adoption of Bitcoin is crucial for the next market surge and attracting more retail investors.
  • Bitcoin is up approximately 85% since the beginning of the year.

The article primarily focuses on positive developments in the Bitcoin ETF space, such as Fidelity Investments finalizing its application and other financial behemoths submitting their applications. The industry is optimistic about institutional adoption and the potential for a market surge. The sentiment is overall positive.

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You May Ask

Which asset manager is finalizing its application for a Bitcoin ETF?What will the ETF track?Which other financial behemoths have submitted applications for Bitcoin ETFs?What does Circle's CEO expect regarding Bitcoin ETF applications?How much has Bitcoin's price increased since the beginning of the year?

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