Claim BonusBreaking: Fidelity On Brink Of Spot Bitcoin ETF Filing
Crypto Market News: The month June 2023 is turning out to be a turning point in the Bitcoin ETF segment, with major corporations flocking to file for applications with the U.S. Securities and Exchange Commission (SEC). After the world’s largest asset manager Blackrock filed for filed for the same on June 15, 2023, other companies Invesco, WisdomTree and Bitwise followed the footsteps. These filings are likely to prove to be massive support for the crypto market as these companies together manage trillions of dollars worth assets across the world. Hence, this could help Bitcoin traverse the most important problem in the industry, which is to change the narrative around cryptocurrencies among traditional players in financial markets.
Also Read: XRP, DOGE Added In Crypto Index Launched By Hong Kong Rating Agency
Earlier, CoinGape reported that Fidelity Investments was preparing to file a spot Bitcoin ETF. On Tuesday, reports suggest that the company was on the brink of filing the application.
Fidelity Bitcoin ETF
According to Wu Blockchain, the world’s third-largest asset management firm was all set to file for a spot Bitcoin exchange traded fund (ETF). This will be yet another filing after Blackrock, considering that Fidelity has $4.2 trillion in assets under management (AUM). The Bitcoin ETF filing would be a second major crypto centric attempt by the asset management firm, which had earlier jointly launched EDX Markets, a non-custodial crypto exchange.
The firm had long been interested in leveraging the crypto market opportunity and had been working on multiple fronts. In December 2022, the firm filed for three trademark applications for services in the Metaverse. Meanwhile, the Bitcoin price could be up for a welcome upswing towards the $31,000 mark and beyond as and when the Bitcoin ETF filing is officially announced.
Also Read: Binance Announces New Functions For Bitcoin, ETH, XRP, SHIB, DOGE Auto Invest
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- CFTC Launches “Future-Proof” Initiative to Modernize Crypto and Prediction Market Rules
- Bitcoin Drops Below $90K as Supreme Court Delays Ruling on Trump Tariffs
- Trump Tariffs: U.S. President Threathens 200% Tariffs on France Amid Greenland Dispute
- Breaking: Tom Lee’s BitMine Acquires 35,268 ETH as Staked Ethereum Surges to All-Time High
- Fed Chair Decision: Trump Could Decide on Powell’s Successor Next Week, Scott Bessent Says
- Chainlink Price Prediction After 24/5 Stock Data Launch: What’s Next For LINK?
- XRP Price Eyes a 25% Rebound Ahead of Brad Garlinghouse Statements at Davos Summit
- Why Silver and Gold Prices Are Rising While Crypto Falls Under Tariff Pressure?
- Solana Price Prediction As NYSE Launched Stock Tokenization Platform
- Bitcoin Price Outlook Ahead of Trump’s Davos Speech as Trade War Tensions Ease
- Top 3 Price Prediction for Ethereum, XRP and Bitcoin If Crypto Structure Gets Approved This Month
