Fidelity Investments joins the list of Bitcoin ETF applicants.
Shutterstock cover by Sundry Photography
Share this article
URL Copied
Fidelity Investments has filed a Bitcoin ETF proposal with the SEC. The asset management giant is the latest to join the queue of firms hoping to lay claim to the product.
Fidelity Joins BTC ETF Hopefuls
Fidelity’s subsidiary, FD Funds Management LLC, filed its S-1 with the Securities and Exchange Commission (SEC). The firm’s Bitcoin ETF is called the “Wise Origin Bitcoin Fund.”
The financial service company’s child unit Fidelity Digital Assets, will provide the custodial services to store Bitcoins backing the ETF.
With close to $5 trillion in assets under management, Fidelity Investments has built a suite of Bitcoin-related investment tools in custodial service, mining experiments, a cash lending program, and Fidelity Bitcoin Index PR, which fetches the real-time price of BTC in U.S. dollars based on the trading on spot exchanges.
“An increasingly wide range of investors seeking access to bitcoin has underscored the need for a more diversified set of products offering exposure to digital assets.”
Bitcoin ETF applications continue to pile at the SEC since December 2020.
There are eight pending fillings with the regulator, including VanEck, NYDIG, CBOE, Wisdom Tree, Valkyrie, SkyBridge/First Advisors, and Simplify’s mixed ETF with stocks, and, of course, Fidelity’s application.
Nonetheless, the SEC has rejected nine applications before the pandemic.
Disclosure: The author held Bitcoin at the time of press.
Share this article
URL Copied
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
Large institutional investors are coming around to the idea of cryptocurrency, with Fidelity claiming over 36% of American and European funds own cryptocurrencies like Bitcoin and Ether. Is this the...
Another Multi-Billion Dollar Company Turns to Bitcoin as a Dollar Hedg...
Yet another multi-billion dollar publicly-traded company told investors it would invest a portion of its assets in Bitcoin to preserve the value of its capital against a weakening dollar. BTC,...
After Bitcoin, SEC Commissioner Hester Peirce Backs DeFi
Hester Peirce, a commissioner at the U.S. Securities and Exchange Commission (SEC), recognized that DeFi is “a rapidly growing corner of the crypto world with significant money.” She added that...
