Rumors emerge on the web about Fidelity’s plans to launch a spot bitcoin ETF
Andrew Parish, the co-founder of the Arch Public trading company, was the first to report this
19.06.2023 - 12:20
187
2 min
0
Fidelity Investments, the world’s third-largest asset management firm with $4.2 trillion in assets under management (AUM), preparing to file a spot Bitcoin ETF similar to BlackRock iShares spot Bitcoin ETF. The financial giant is also planning to submit an offer to acquire the largest digital asset management firm Grayscale Investments.
Fidelity Investments Filing a Spot Bitcoin ETF
After BlackRock iShares spot Bitcoin ETF filing, Fidelity Investments also preparing a similar spot Bitcoin ETF application with the US Securities and Exchange Commission (SEC). Fidelity Investments operates its digital asset operations under Fidelity Digital Assets.
Moreover, Fidelity Investments is also looking to submit a bid to acquire Grayscale Investments. Barry Silbert’s Digital Currency Group-owned Grayscale sued the US SEC for rejecting its application to convert Bitcoin Trust (GBTC) to spot Bitcoin ETF.
Crypto influencer Andrew Parish also believes that as traditional financial firms enter the crypto industry, he wouldn’t be surprised to see Fidelity offer staking services soon. Fidelity Digital Asset already offers Ethereum ETF in the US and Bitcoin ETFs on international exchanges. Moreover, it is mining Bitcoin since 2014 and accumulating BTC, as well as offering crypto custody services.
Fidelity Investments and Grayscale have yet to confirm the buzz surrounding filing a spot Bitcoin exchange-traded fund and bid to acquire GBTC issuer Grayscale.
The news was shared by notable crypto influencers including Scott Melker or The Wolf Of All Streets, Michael van de Poppe, and Ash Crypto.
The crypto community reacted positively to the news and anticipates Fidelity can file for spot Bitcoin ETF as it continues to deepen its crypto presence.
This material is taken from the website https://coingape.com.
Useful material?
Crypto regulations
According to Brad Garlinghouse, the magnitude of the impact of such harassment on the crypto ecosystem is beyond prediction
May 13, 2024
Crypto regulations
The condition is part of the exchange’s agreement with authorities to plead guilty to regulatory violations
May 13, 2024
Market
The USDT issuer responded by saying that the report lacked sufficient data to support such claims
May 10, 2024
Incidents
The breach was reported to Binance by the head of its monitoring department, who was later fired
May 9, 2024
Trends
In April, the project’s launch on the crypto exchange was postponed twice
May 9, 2024
Incidents
Users were urged to withdraw funds before the site was completely shut down on November 7
May 8, 2024