Fidelity Investments has filed an application with the Securities and Exchange Commission (SEC) to introduce a spot bitcoin ETF, as reported by CNBC. In its filing, the company highlights the importance of having a regulated market for digital asset securities.
Assuming SEC approval, the launch of this spot bitcoin ETF by Fidelity Investments will enable customers to trade bitcoin through an exchange-traded fund; this comes after the SEC dismissed the company’s previous application for a bitcoin trust earlier in the year, and is concurrent with similar applications from WisdomTree and BlackRock.
According to Bloomberg, there have been approximately 30 endeavors by different companies aiming to introduce a “spot-bitcoin product.”
