Bitcoin ETF: Next filing towards SEC comes from Fidelity
This week there are again new very prominent applications for a Bitcoin ETF to report. In addition to Goldman Sachs, the giant among asset managers – Fidelity – is also starting an attempt.
A subsidiary of the investment giant Fidelity is the next candidate to try it with an application for a Bitcoin ETF at the US Securities and Exchange Commission (SEC). On Wednesday, the Bitcoin Future corresponding Form S-1 was filed with the authority. At its core, the application seeks approval for the „Wise Origin Bitcoin Trust“, an exchange-traded fund with several ties to Fidelity. This is of course noteworthy in that Fidelity is one of the world’s largest asset managers.
Fidelity affiliates serve as the fund’s sponsor, administrator, custodian and trustee, according to the filing. The fund would track the performance of Fidelity’s Bitcoin Index. Peter Jubber, the managing director of Fidelity Digital Funds, would serve as president of the trust.
Fidelity also has crypto-friendly reputation
Fidelity had already published a sensational study on Bitcoin last autumn. It predicted that constantly falling bond yields and the expansive monetary policy of central banks would encourage many large asset managers to make investments in Bitcoin.
In addition, Fidelity was one of the first large asset managers to get involved with crypto stocks. In 2014, they began mining Bitcoin and Ethereum (ETH). In the same year, Abigail Johnson took over as CEO of the company from her father. Given Fidelity’s importance for the US capital market, the pressure on the SEC to approve the application for the first Bitcoin ETF is increasing.
And that, in turn, could have an impact on the countless other Bitcoin ETF applications that have been received by the SEC in recent weeks and months.