According to The Block, Fidelity is next in line to submit paperwork for a Bitcoin spot ETF.
The asset management Fidelity has been in the spotlight this Tuesday due to rumours that it may soon apply to a spot bitcoin ETF.
Invesco, WisdomTree, Bitwise, and VanEck are among the other firms that have recently applied for a spot in Bitcoin ETF. Bitcoin’s price exceeded $31,000 this week, the highest in almost a year, thanks partly to these submissions.
Fidelity also submitted paperwork for a spot in Bitcoin ETF in 2021. It was first met with hostility. Oanda’s Moya notes that BlackRock, one of its competitors, has also applied for one, suggesting that this time may differ. BlackRock is known for filing for regulatory approvals only when it is sure of success.
If that happens, institutional investors and a few wealthy individuals may be enticed back into the cryptocurrency market.
In the United States, the cryptocurrency exchange EDX Markets, supported by Fidelity, launched last week. However, Binance and Coinbase Global Inc. have lately been targeted by litigation from the United States financial watchdog.
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