Fidelity Investments’ spot Bitcoin exchange-traded fund (ETF) has now appeared on the active and pre-launch list of Depository Trust & Clearing Corporation (DTCC). The Fidelity spot Bitcoin ETF is listed under the ticker — FBTC. This is a significant development for the firm in the race to get approval for the first spot Bitcoin ETF in the United States.
According to the DTCC data, Fidelity Investments’ spot Bitcoin ETF was listed on the Depository Trust & Clearing Corporation (DTCC) website. The Wise Origin Bitcoin FD SHS is listed under the ticker FBTC. It indicates that the U.S. SEC’s approval of a spot Bitcoin ETF is almost here.
The rising anticipation for a spot Bitcoin ETF approval keeps pushing BTC price higher. In addition, the Bitcoin Fear and Greed index has also reached the ‘extreme greed’ range, which signals a possible pullback before another upside momentum.
Meanwhile, Fidelity Director of Global Macro Jurrien Timmer believes Bitcoin price could hit $1 billion by 2038. His prediction is based on Bitcoin being an inflation hedge similar to gold as witnessed in 2020 during fiscal and monetary stimulus due to ring inflation.
CoinGape Media reported Timmer thinks Bitcoin is way above many assets like S&P 500 and Gold, in terms of the risk-to-return ratio. Hence, he asserts portfolios having a little BTC “could go a long way.”
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Matrixport research accurately predicted a bullish rally to $45,000 by the end of the year when BTC price was trading near $35K. The firm also predicted the price hitting $60,000 before Bitcoin halving.
The spot Bitcoin ETF hype coupled with bull market hints at a massive rally forthcoming. Nonetheless, traders must be cautious in the face of unforeseen events.
BTC price currently trading at $43,440, paring earlier gains due to CME gap at $39,700. The 24-hour low and high are $42,880 and $43,951, respectively. Furthermore, the trading volume has increased slightly in the last 24 hours.
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