Fidelity Has Applied For A Bitcoin ETF

Major asset management firm Fidelity has filed an application for a Bitcoin exchange-traded fund (ETF).

Fidelity has applied for a Bitcoin ETF. The major asset management firm filed an application with the US Securities and Exchange Commission for a Bitcoin exchange traded fund (ETF). The sponsor of the fund was stated as FD Funds Management LLC and the manager as Fidelity Service Company Inc. in the application file. It was noted in the document that FD Funds Management LLC shared the same address as Fidelity's Boston office. Fidelity Digital Assets, the company's digital asset-focused subsidiary, will provide custody services for ETF. With the increasing corporate interest in cryptocurrencies, many Bitcoin ETF applications have been made to the US Securities and Exchange Commission (SEC) recently. A few weeks ago, ETF giant WisdomTree applied to the SEC for a Bitcoin-based exchange traded fund. If the ETF in question is approved, it will be listed on the CBOE stock exchange. Separate ETF applications from NYDIG, Valkyrie, and VanEck are also on the SEC's desk. These applications are pending for evaluation. Many Bitcoin ETF applications had been submitted to the SEC until this year. However, the SEC denied all applications. It is stated that there is a high probability of a BTC ETF approval in 2021. On the other hand, three separate Bitcoin ETF applications have been approved in Canada so far this year. Among them, BTCs under the management of Purpose Bitcoin ETF, which received the first approval, reached 15 thousand. After Canada, Brazil also approved the first Bitcoin ETF in the country.