Fidelity, which manages more than $10 trillion in assets, is preparing to apply for a spot Bitcoin ETF.
The Block warmed up the agenda with a new ETF news. Fidelity, which manages more than $10 trillion in assets, is preparing to apply for a spot Bitcoin ETF, The Block reports.
Previously, BlackRock’s spot Bitcoin ETF application was on the agenda. The crypto market started its bull run with the news of BlackRock.
Biggest Fidelity Prepares for Bitcoin ETF
Asset management company Fidelity, which is in the biggest league, is preparing to apply for a spot Bitcoin ETF.
According to the news of The Block, Fidelity, one of the world’s largest asset managers with more than $ 10 trillion in assets under its management, is included in the trend started by BlackRock.
This new move of Fidelity will be made for the second time. Fidelity has previously applied for a spot Bitcoin ETF called Wise Origin Bitcoin Trust. However, the SEC rejected this application. After 2021, Fidelity is preparing to knock on Bitcoin’s door for the second time.
If BlackRock and Fidelity’s ETF applications are approved, institutions that manage more than $20 trillion in assets will start trading Bitcoin. Bitcoin has not yet reached 1 trillion dollars in the current market condition
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