Investing News

Fidelity joins the rush for a bitcoin ETF, following BlackRock, Ark Invest and others

A sign marks a Fidelity Investments office in Boston, Massachusetts, April 28, 2022.
Brian Snyder | Reuters

Asset management giant Fidelity Investments is again trying to launch a spot bitcoin ETF, according to a Thursday filing.

The move comes two weeks after BlackRock filed for spot bitcoin ETF, which has long been opposed by the Securities and Exchange Commission.

Other firms appear to have taken BlackRock’s filing as a sign that the SEC’s stance could soon change. Since then, WisdomTree, VanEck and Invesco have taken the initial steps toward their own funds. Cathie Wood’s Ark Invest filed for changes to its proposed bitcoin fund on Wednesday that brought it closer in-line with BlackRock’s application.

Thursday’s filing is a proposed rule from the Cboe Bzx Exchange to list the Wise Origin Bitcoin Trust, the name of Fidelity’s previous proposed bitcoin ETF that was denied by the SEC. The exchange has made similar filings for other firms over the past two weeks.

Articles You May Like

3 Stocks Set to Capitalize on Emerging Market Trends
7 Blue-Chip Stocks to Pick Up While They’re Down
Carl Icahn gets two seats on JetBlue’s board. Here’s how he may help build value
Cannabis Comeback: 3 Stocks to Snag After the Bubble Burst
SoFi’s Resilience: How the Fintech Giant Is Bouncing Back in 2024