One of the world’s largest asset managers Fidelity has officially filed for the spot Bitcoin ETF on Thursday. Per reports, the spot Bitcoin hopefuls were filed under the Wise Origin Bitcoin Trust name.
This news didn’t come as a shock because, in the past, there have been many reports about the possibility of Fidelity filing for spot Bitcoin ETF, the Thursday Filing however made it official.
Hitherto, the US Securities and Exchange Commission (SEC) has not approved any spot Bitcoin ETF, even though there have been many firms that have filed similar filings in the past.
This application comes days after BlackRock which boasts of managing assets worth $9 trillion disclosed its intent to launch a spot Bitcoin ETF. Since BlackRock’s filing in early June, there have been many world’s notable asset managers such as Valkyrie, Invesco, and WisdomTree amongst others filing for spot Bitcoin ETF.
The news is gaining notable attention in the crypto industry because the ability of the asset managers to offer such services is likely to attract institutional investors to the crypto industry.
