Bitcoin ETF news keeps coming. June marked a major turning point for the Bitcoin ETF landscape as several major companies rushed to file applications with the US Securities and Exchange Commission (SEC). We know about Blackrock’s application on June 15, 2023. After this application, industry giants such as Invesco, WisdomTree and Bitwise followed the same path. It is very important to have these applications. It sort of solves the legitimacy problem for the cryptocurrency market. On the other hand, it is also very important for acceptance. So which financial giant is applying? Let’s look at the details.
Fidelity Investments prepares to apply for Bitcoin ETF
cryptocoin.com As we mentioned above, companies applying for Bitcoin ETFs have a situation. Accordingly, it has the potential to provide a tremendous boost to the crypto market. Because these companies manage trillions of dollars in assets. Finally, Fidelity Investments is preparing to apply for a Bitcoin ETF. The latest development could revolutionize the narrative surrounding cryptocurrencies among traditional financial market players.
Fidelity Investments is preparing to apply for a spot Bitcoin ETF. Recent reports suggest the company is on the verge of submitting the application. There’s a whopping $4.2 trillion in assets under management (AUM). Fidelity’s entry into the BTC ETF space would be an important move, following in Blackrock’s footsteps.
Fidelity’s crypto efforts
Wu Blockchain reports that Fidelity Investments, the world’s third-largest asset management firm, is poised to make its mark with a spot Bitcoin exchange-traded fund (ETF) application. This initiative marks Fidelity’s strong interest in the crypto market. It also shows that it is based on the joint launch of EDX Markets, a non-custodial crypto exchange. The company is actively exploring various avenues in the crypto space, including trademark applications related to services on the Metaverse.
With the upcoming announcement of the BTC ETF application by Fidelity, an important result is on the horizon. Accordingly, industry analysts predict a positive rise in Bitcoin price. Speculation highlights the potential positive impact of the Bitcoin ETF on the cryptocurrency market. On the other hand, they point to a potential increase in Bitcoin price towards $31,000 and beyond.
Bitcoin ETF filings from big companies like Blackrock, Invesco, WisdomTree and now Fidelity Investments point to a tremendous shift in the cryptocurrency world. These applications have the potential to reshape the perception of cryptocurrencies in traditional financial markets. As the BTC ETF narrative gains momentum, market participants eagerly await the official announcements, anticipating a transformative impact on the value of Bitcoin and wider industry adoption.
