Bitcoin

Impact

Bold

<ul> 
 <li>The recent surge in cryptocurrency prices, especially Bitcoin, is attributed to BlackRock’s application for a spot Bitcoin ETF.</li> 
 <li>Fidelity, whose previous Bitcoin ETF application was rejected by the SEC, is reportedly preparing to try again.</li> 
 <li>These applications by leading asset management firms could trigger a competition for a Bitcoin ETF, which would be a significant advantage for the industry.</li> 
</ul> 
<p>Major asset management firms BlackRock and Fidelity are believed to be behind the recent surge in cryptocurrency prices due to their applications for a Bitcoin ETF. This move could spark a competition among leading firms, which would be beneficial for the crypto industry.</p> 
<h2 id="strong-blackrock-and-fidelity-stir-the-crypto-market-strong"><strong>BlackRock and Fidelity Stir the Crypto Market</strong></h2> 
<p>Before BlackRock made its move, Fidelity had already submitted a Bitcoin ETF application. However, the Securities and Exchange Commission (SEC) rejected it. Now, Fidelity is reportedly gearing up to give it another shot. The company, which manages $11 trillion in assets, is preparing for a new spot Bitcoin ETF application.</p> 
<h3 id="strong-advantages-for-the-crypto-industry-strong"><strong>Advantages for the Crypto Industry</strong></h3> 
<p>The decision by these firms to apply for a Bitcoin ETF is seen as an undeniable advantage for the crypto industry. It could potentially ignite a competition between two of the world’s leading asset management companies for a Bitcoin ETF.</p> 
<h3 id="strong-positive-impact-on-crypto-prices-strong"><strong>Positive Impact on Crypto Prices</strong></h3> 
<p>Fidelity has not yet officially commented on the development. It’s worth noting that BlackRock, the world’s largest asset management firm, has a significant influence not only in the crypto market but also in the stock market. As a result, the excitement following the application has led to a rise in Bitcoin and altcoin prices. Bitcoin surpassed $31,000, and the total value of the crypto market approached $1.2 trillion.</p> 
<p>The post <a rel="nofollow" href="https://en.coinotag.com/fidelitys-bold-bitcoin-etf-move-in-the-trillion-dollar-crypto-arena/">Fidelity’s Bold Bitcoin ETF Move in the Trillion-Dollar Crypto Arena</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG EN</a>.</p>

Fidelity’s Bold Bitcoin ETF Move in the Trillion-Dollar Crypto Arena

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