Fidelity rejoins rush to spot bitcoin ETF with fresh filing
Asset management giant Fidelity is rejoining the mad rush for a spot bitcoin ETF, according to a Thursday filing with the U.S. Securities and Exchange Commission....
- Fidelity is rejoining the rush for a spot bitcoin ETF, following other firms like BlackRock, WisdomTree, and Invesco.
- The new fund, called Wise Origin Bitcoin Trust, will be sponsored by FD Funds Management LLC and custody of the trust's bitcoin will be handled by Fidelity Digital Assets Services.
- Fidelity remains committed to providing customers with a portfolio of solutions for their financial needs and objectives.
- The SEC has yet to approve a spot bitcoin ETF, but the latest filings from Fidelity and other firms are being closely watched.
- The filings mention a surveillance sharing agreement mechanism, similar to BlackRock's recent filing.
- Fidelity has previously backed EDX Markets, a cryptocurrency exchange, and has opened access to Fidelity Crypto for trading bitcoin and ether commission-free.
- Fidelity is also building a new crypto research team.
The sentiment of the article is generally positive, highlighting Fidelity's involvement in the cryptocurrency market and the potential for a spot bitcoin ETF.