Fidelity, a major asset management company, has reapplied for a Bitcoin ETF (exchange-traded fund) “Wise Origin Bitcoin Trust” on the 29th. Fidelity filed in 2021, but the SEC rejected it in 2022.
About two weeks ago, BlackRock filed for the iShares Bitcoin Trust bitcoin ETF. Since then, the likes of Invesco and WisdomTree have applied or reapplied for bitcoin ETFs, and Fidelity was reportedly preparing to reapply earlier this week.
Like BlackRock, Fidelity’s filing also includes a “surveillance sharing agreement” with a US Bitcoin trading platform. The move is intended to allay SEC concerns about market manipulation.
Fidelity also pointed to losses suffered by investors as custody providers and centralized exchanges continued to fail, and investment products like Bitcoin ETFs attracted “countless investors.” He points out that he was protected.
So far, the SEC has not made any decisions on new Bitcoin ETF applications or re-applications. BlackRock has so far applied for 575 ETFs and all but one have been approved. Many are optimistic, but some are skeptical.
Townsend Lansing, chief product officer of crypto manager CoinShares, said in a podcast on Wednesday that there is a 10% chance that BlackRock’s application will be approved, and that the SEC will not allow bitcoin trading. Most of them said they want to be done on US crypto exchanges.
｜Translation: CoinDesk JAPAN
｜Editing: Takayuki Masuda
｜ Original: Fidelity Refiles for Spot Bitcoin ETF
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