TechFlow news, according to The Block, asset management giant Fidelity is preparing to file its own application for a spot Bitcoin exchange-traded fund (ETF), joining a growing list of issuers racing to launch such products first. A source familiar with the company's plans said it could file as early as Tuesday.
After BlackRock filed its documents on June 15, other asset managers also began seeking to launch their own spot Bitcoin funds, including Invesco, WisdomTree, and Bitwise.
This would be Fidelity’s second attempt at such a product. In 2021, it applied for a spot Bitcoin ETF called the Wise Origin Bitcoin Trust, but the application was rejected by the U.S. Securities and Exchange Commission in early 2022. When contacted by The Block, Fidelity declined to comment.
