Fidelity refiles for Bitcoin ETF.

Asset management giant Fidelity has refiled paperwork for its Wise Origin Bitcoin Trust, a spot bitcoin ETF.

The move comes roughly two weeks after BlackRock’s (BLK) iShares unit submitted paperwork for the iShares Bitcoin Trust, also a spot bitcoin ETF. Fidelity in 2021 had originally applied to launch the Wise Origin Bitcoin Trust, but that effort was rejected by the U.S. Securities and Exchange Commission (SEC) in 2022.

Since the BlackRock spot ETF filing earlier in June, a number of other fund companies have done similar, including Invesco (IVZ) and WisdomTree , and a report earlier this week said a Fidelity filing was imminent .

Similar to the BlackRock filing, today’s paperwork from Fidelity includes a “surveillance sharing agreement” with an unnamed U.S. spot-based bitcoin trading platform, the purpose of which is to help ease SEC concerns about market manipulation.

Fidelity also noted losses recently borne by crypto participants thanks to a number of insolvencies of both custodians and centralized exchanges, and said access to a vehicle such as a spot bitcoin ETF would have protected “countless investors.”

So far, the SEC has not made a decision regarding any of the new applications. While many seem optimistic about the application from BlackRock – which has received a green light for all of its previous 575 ETF applications, except one – some remain skeptical.

CoinShares’ chief product officer Townsend Lansing said on a podcast Monday that he sees a 10% chance that BlackRock’s application gets approved, arguing that what the SEC wants to see is that the majority of bitcoin trading is facilitated on a U.S. crypto exchange.

The price of bitcoin (BTC) is little-changed on the news at $30,500.

Read more: Bitcoin Briefly Pushes Above $31K After Fidelity Spot ETF Report

Edited by Nelson Wang and Stephen Alpher.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Shiba Memu announces BitMart listing as presale surpasses $1.5M milestone.

London, UK, August 4th, 2023, Chainwire Shiba Memu, an exciting new AI-backed crypto meme coin, is generating signifi...


John Lewis partners with Google Cloud in £100M AI and ML collaboration

The John Lewis Partnership is leveraging artificial intelligence, supported by Google Cloud, to enhance and optimize ...


Oracle shares plummeted by over 9% following a disappointing Q1 2024 revenue forecast.

Oracle's board of directors approved a generous cash dividend of approximately 40 cents per share, reflecting the com...


BlackRock believes AI is a powerful force that will drive macro trends.

BlackRock has become part of a group of proponents for artificial intelligence, asserting that AI will be a powerful ...


Remitano crypto exchange hacked for $2.7 million

Remitano, a cryptocurrency exchange platform headquartered in Seychelles, has been taking prompt action in response t...


Crypto Market Dynamics: Uniswap, THORChain, and Rebel Satoshi

Discovering the Potential of Rebel Satoshi ($RBLZ) Token as UNI and RUNE Experience a Boost in the Market - A Closer ...