Fidelity Asks SEC for Authorization to Launch a Spot Bitcoin ETF
Asset management giant Fidelity has re-filed for wisdom from Bitcoin Trust, a bitcoin exchange-traded fund (ETF). The move comes about two weeks after BlackRock's ( BLK ) iShares unit filed for the iShares Bitcoin Trust, also a bitcoin ETF.
Trust in 2021 requested the release of Wise Origin Bitcoin Trust, but the United States Securities and Exchange Commission (SEC) rejected this effort in 2022.
Since the filing of the BlackRock cash ETF in early June, several other financial institutions have followed suit, including Invesco (IVZ) and WisdomTree (WT), and earlier reports this week indicated that a filing with Fidelity was imminent. Bitcoin (BTC) didn't break the news on Thursday afternoon, but the overnight session lifted the price briefly above $31,000. Since then it has fallen back slightly to $30,800.
Bitcoin Cash (BCH) continues to rally at a rapid pace following the decision of EDX Markets, supported by Fidelity, Charles Schwab and Citadel, starting on June 20, with BCH as one of the coins four are available for trading and stock exchanges.
The cryptocurrency gained another 30% in the past 24 hours to reach a 14-month high of $320, bringing its cumulative value since EDX's debut on June 20 to 183%, according to data from CoinDesk. The latest price hike is supported by a notable increase in trading activity on South Korea's largest digital asset exchange, Upbit.
Binance, the largest cryptocurrency exchange in the world by market value, said that its clients are optimistic about crypto prospects for the coming year and beyond, according to a survey it conducted between March and May 2023. The study—conducted by Binance Research and the Binance VIP & Institutional team—surveyed 208 clients, nearly a quarter of whom have assets under management (AUM) over $100 million and over half have AUM under $25 million.
Just under two-thirds of respondents (63.5%) said they were positive about the outlook for crypto in the next year, and 88% said they were optimistic about the next decade , according to the report. Date card
The chart shows the evolution of open interest in bitcoin futures contracts since February 2020. Open interest refers to the number of active contracts at any given time. The dollar value of locked and open contracts rose from $50 million to $362 million in 10 days, indicating an increase in new money in the market.
The cryptocurrency's spot price has jumped more than 183% since June 20.