United

Bitcoin

Impact

Spot

<p data-wp-editing="1"><a href="https://bc.game/i-q0xtr0kn-n/" rel="noopener noreferrer nofollow"><img class="alignnone wp-image-129906 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/10/bcgame.webp" alt="bcgame" width="350" height="250"></a></p>
<ul>
 <li>Fidelity, a leading ETF issuer with $37 billion in assets spanning 58 ETFs, has re-submitted its application to the United States Securities and Exchange Commission (SEC) for a Bitcoin spot ETF called the “Wise Origin Bitcoin Trust.”</li>
 <li>Abigail Johnson, CEO of Fidelity Investments, has been an outspoken advocate for integrating cryptocurrencies into traditional finance.</li>
 <li>The crypto community eagerly awaits the outcome of Fidelity’s Bitcoin ETF update. Approval could attract institutional investors and promote mainstream adoption.</li>
</ul>
<p><strong>Fidelity Investments submits updated Bitcoin ETF proposal to the US Securities and Exchange Commission: Why is this an important detail?</strong></p>
<h2 id="strong-fidelity-submits-an-update-for-the-bitcoin-etf-strong"><strong>Fidelity Submits an Update for the Bitcoin ETF</strong></h2>
<p><img decoding="async" loading="lazy" class="alignnone size-full wp-image-126551" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>Fidelity Investments, a prominent ETF issuer with $37 billion in assets across 58 ETFs, has re-submitted its application to the United States Securities and Exchange Commission (SEC) for the Bitcoin spot ETF called the “Wise Origin Bitcoin Trust.” The updated proposal aims to address concerns previously raised by regulators when considering Bitcoin ETFs.</p>
<p>The update to the Bitcoin ETF proposal would enable investors to easily buy and sell shares of a fund that tracks the price of Bitcoin without needing to hold or safeguard the cryptocurrency themselves. This practical solution offers institutional investors a safer way to interact with the booming yet volatile crypto market.</p>
<p>Fidelity’s decision reflects their belief in the long-term sustainability and expansion of digital assets. It also responds to the demands of their customers seeking diverse and innovative investment options.</p>
<p>Abigail Johnson, CEO of Fidelity Investments, has been a vocal advocate for integrating cryptocurrencies into traditional finance. The company aims to enhance access to digital-native assets like Bitcoin, making them more readily available to investors.</p>
<p>The SEC has been reluctant to approve any Bitcoin exchange-traded fund due to concerns related to market manipulation, fraud, custody, and investor protection. Numerous applications from companies like VanEck and Valkyrie have been denied or delayed.</p>
<p>However, Fidelity’s Bitcoin ETF proposal carries the potential for SEC approval due to its strong reputation and substantial resources. The updated proposal addresses SEC’s concerns by offering increased transparency, liquidity, and security for the Bitcoin ETF.</p>
<h2 id="strong-the-impact-of-fidelity-s-bitcoin-etf-update-strong"><strong>The Impact of Fidelity’s Bitcoin ETF Update</strong></h2>
<p>The crypto community is excitedly awaiting the outcome of Fidelity’s Bitcoin ETF update. If approved, it could attract institutional investors, boost mainstream adoption, and contribute to increased demand and prices for Bitcoin and other cryptocurrencies.</p>
<p>Conversely, a rejection could dampen crypto investors’ enthusiasm, lead to market sensitivity, and cause a decrease in value. The update is expected to trigger a conflict between the SEC and the crypto industry, which is debating the future of digital asset investment.</p>
<p>The market has been recovering since the fake news on October 16th, claiming that BlackRock’s iShares Spot BTC ETF had been approved. This incident led to approximately $1 billion in total open positions being liquidated, about $80 million in short positions being closed, and $18 million in long positions being liquidated.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/fidelity-updates-its-spot-bitcoin-etf-filing-why-was-this-update-made/">Fidelity Updates its Spot Bitcoin ETF Filing: Why Was This Update Made?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
<table style="width: 100%; border-collapse:">
 <tbody>
  <tr>
   <td style="width: 100%; text-align: left;"><a href="https://en.coinotag.com/altcoin-exchange-1333421/" target="_blank" rel="noopener noreferrer nofollow"><strong><span style="color: #000000;">Did you missed the PEPE?<span style="color: #e67e22;"> No worries, click here to 100x potential memes!</span></span></strong></a></td>
  </tr>
 </tbody>
</table>

Fidelity Updates its Spot Bitcoin ETF Filing: Why Was This Update Made?

Table of Contents

COINOTAG NEWS

Other articles published on Oct 18, 2023

Microsoft AI chatbot predicts Cardano, Aave, and Everlodge to rally in 2023

Coinbase selects Germany as a key regional talent hub amid the growing shift of web3 firms from t...

FTX Founder had Meetings Lined Up With Bill Clinton: Details

Ripple IPO Speculation and XRP Coin Price Analysis

Microsoft’s Acquisition of Activision Blizzard and King

Four suspects face death penalty in South Korea crypto murder case

Join our free newsletter for daily crypto updates!