Fidelity Refiles Bitcoin Spot ETF Application After BlackRock
Like ARK, Fidelity has modified its ETF proposal to match BlackRock....
- Fidelity Digital Assets has resubmitted its filing to launch a Bitcoin Spot ETF in the US, with parts of the filing similar to BlackRock and ARK Invest's submissions.
- The proposal aims to allow the Cboe BZX Exchange to list and trade shares of Fidelity's Wise Origin Bitcoin Trust.
- Fidelity challenges the SEC's justification for denying previous spot ETF applications, emphasizing the need for a surveillance sharing agreement (SSA) with a regulated market of significant size.
- The filing proposes an SSA with a US-based spot trading platform for Bitcoin that represents a substantial portion of US-based Bitcoin trading.
- Analysts estimate the SEC's next deadline for approving this ETF to be September 2, with ARK and BlackRock expected to be approved earlier.
The sentiment of the article is generally positive, as it highlights Fidelity's efforts to launch a Bitcoin Spot ETF and challenges the SEC's reasoning for denying previous applications.