Fidelity Preparing to Submit Spot Bitcoin ETF Filing

Fidelity, the asset management giant, is planning to file for a bitcoin-focused ETF, according to a source familiar with the matter. Last week, rumors were swirling that the asset management giant would either file for an ETF or make a bid on Grayscale’s Bitcoin Trust. Applying for an ETF would put Fidelity in line with BlackRock, Invesco, and WisdomTree, who have all recently sought to launch bitcoin ETFs. Fidelity previously attempted to establish a similar trust in 2021 but was denied by the SEC. Analysts predict that a successful bitcoin ETF could transform the market by providing investors and a large base of capital with easier access to the world’s most popular digital asset.