Fidelity has updated its application to launch a spot Bitcoin ETF

Investment firm Fidelity has filed an updated application to launch a spot bitcoin exchange-traded fund (ETF) called the “Wise Origin Bitcoin Trust” with the US Securities and Exchange Commission (SEC).

The company took into account the problems cited by the SEC in rejecting the proposal. The updated application offers increased transparency, liquidity and security. According to it, a spot Bitcoin ETF will allow investors to easily buy and sell shares of the Fidelity fund, without having to own the cryptocurrency themselves.

Fidelity has previously said it plans to expand into digital assets. Fidelity Investments CEO Abigail Johnson has been a vocal advocate for integrating cryptocurrencies into traditional finance and strives to increase their accessibility for investors.

Recently, information appeared in the media and social networks about the SEC’s approval of iShares’ application to launch a spot Bitcoin ETF. Against this background, the price of Bitcoin soared above $29,000, but the news turned out to be fake. Analysts at the Coinglass service calculated that due to the jump in the rates of Bitcoin and other cryptocurrencies, traders lost about $154 million per day.

Source: Cryptocurrency

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