Fidelity Investments has joined other companies in the industry by applying for a spot Bitcoin ETF. Fidelity, which was the last company to join the spot BTC ETF application stream initiated by BlackRock, followed other companies such as WisdomTree, Ark Investments and Invesco, and joined the caravan.
According to the application, a structure called Wise Origin Bitcoin Trust will be established by the trust’s sponsor, FD Funds Management LLC. Fidelity Digital Assets Services will be responsible for the management of the assets of this structure.
However, the US Securities and Exchange Commission (SEC) has so far not approved any spot Bitcoin ETF applications. Companies continue to make similar applications since 2021. of BlackRock Its involvement in this area has led to speculation that it could lead to changes in the SEC’s stance.
Fidelity submitted its first spot Bitcoin ETF application in 2021. However, no spot BTC ETF has yet been approved, and the SEC’s stance on this remains unclear. Companies continue to await SEC approval for spot Bitcoin ETFs. These developments are important in terms of the emergence of new investment products and increasing institutional participation in the crypto money world.
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