- It is reported that the company could file as early as Tuesday, June 27
- This will be Fidelity’s second attempt to create such a product
American company Fidelity will soon file for registration of a new exchange product. It will thus join a long list of companies seeking to market a spot bitcoin ETF.According to an insider, the firm is considering filing as early as Tuesday, following the example of global investment giant BlackRock.
Fidelity is preparing for its second attempt to create such a product. In 2021, the company applied for an exchange-traded fund called Wise Origin Bitcoin Trust. However, in early 2022, the SEC rejected the application. It was previously reported that Fidelity plans to buy out Grayscale or launch a bitcoin ETF.
Analysts call the launch of a spot bitcoin ETF a good development, as it will give investors access to the market without having to deal directly with the underlying asset. BlackRock’s filing was deemed important given its size and importance in global markets.
An analyst at Ark, Yassin Elmanjra, said:
“BlackRock’s bitcoin ETF filing shows a positive assessment by major institutional players of the long-term prospects of this digital asset.”
In addition to BlackRock, WisdomTree and Invesco, Valkyrie have filed for a spot bitcoin ETF.. And the ARK Invest fund recently announced that their company is first in line for approval of a spot bitcoin-ETF.
The ARK Invest fund recently announced that their company is first in line for approval of a spot bitcoin-ETF.