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Earlier, CoinGape reported that Fidelity Investments was preparing to file a spot Bitcoin ETF. On Tuesday, reports suggest that the company was on the brink of filing the application.
According to Wu Blockchain, the world’s third-largest asset management firm was all set to file for a spot Bitcoin exchange traded fund (ETF). This will be yet another filing after Blackrock, considering that Fidelity has $4.2 trillion in assets under management (AUM). The Bitcoin ETF filing would be a second major crypto centric attempt by the asset management firm, which had earlier jointly launched EDX Markets, a non-custodial crypto exchange.
The firm had long been interested in leveraging the Crypto Market opportunity and had been working on multiple fronts. In December 2022, the firm filed for three trademark applications for services in the Metaverse. Meanwhile, the Bitcoin price could be up for a welcome upswing towards the $31,000 mark and beyond as and when the Bitcoin ETF filing is officially announced.
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