Fidelity submits renewed application for spot bitcoin ETF
Fidelity, the multi-trillion-dollar asset management firm, has once again filed paperwork for its Wise Origin Bitcoin Trust, a move that marks the company’s renewed pursuit of launching a spot bitcoin ETF. Fidelity Investments, the financial titan overseeing $11 trillion in assets under administration, has once again stepped into the arena of spot bitcoin ETF contenders. The move occurs in the wake of BlackRock’s iShares unit, an asset management company with nearly $9 trillion in assets under management, revealing its plans to launch its own spot bitcoin ETF earlier in June. BlackRock’s announcement has spurred a chain reaction, reigniting the ambitions of several other fund companies including Invesco, WisdomTree, and Ark Invest. JUST IN: $4.2 trillion asset manager Fidelity to file for spot #Bitcoin ETF. — Watcher.Guru (@WatcherGuru) June 27, 2023 The relaunched initiative, named the Wise Origin Bitcoin Trust, is not Fidelity’s maiden venture in...