Fidelity Registers New Application for Spot Bitcoin ETF: Here Are the Details!

  • Fidelity has submitted an application to the United States Securities and Exchange Commission (SEC) for the registration of securities for a spot Bitcoin ETF.
  • The application comes amid widespread uncertainty about whether crypto assets, such as Bitcoin, are securities or commodities.
  • Earlier, COINOTAG reported that Fidelity’s spot Bitcoin ETF was added to the Depository Trust & Clearing Corporation’s (DTCC) active and pre-launch list.

Investment giant Fidelity Investments has filed a new registration for a spot Bitcoin ETF with the United States Securities and Exchange Commission (SEC): What details stand out?

Fidelity Submits Registration File for Bitcoin ETF

bitcoin-btc

Asset manager Fidelity has applied to the SEC for the registration of securities for a spot Bitcoin ETF. This comes as expectations for the approval of spot ETF applications continue broadly ahead of the January 10, 2024, deadline.

According to the 8-A form application filed with the SEC, Fidelity applied for the registration of shares of the Fidelity Wise Origin Bitcoin Fund for the benefit of its stakeholders. The application comes amid widespread uncertainty about whether crypto assets, such as Bitcoin, are securities or commodities. Bitcoin ETFs track the price of Bitcoin and trade on traditional markets to provide indirect exposure to the crypto space.

Recently, the United States Commodity Futures Trading Commission (CFTC) and the SEC made conflicting statements about which jurisdiction trading in Bitcoin and other cryptocurrencies falls under, creating widespread uncertainty among traders and investors.

ETF Approval Before January 10?

In addition to news that another Wall Street bank may join the Bitcoin ETF space, reports suggest that Goldman Sachs is currently in talks to become an “authorized participant” (AP) with BlackRock and Grayscale. JP Morgan has already been named as the lead AP in the latest application for Blackrock’s ETF. Meanwhile, it remains to be seen if there will be any official announcement regarding spot ETF approval during the window of January 8-10, 2024.

Earlier, COINOTAG reported that Fidelity’s spot Bitcoin ETF was added to the active and pre-launch list of the Depository Trust & Clearing Corporation (DTCC). Fidelity’s spot ETF was listed under the FBTC ticker symbol at the DTCC. Following this, Bitwise’s spot Bitcoin ETF was also added to the DTCC’s active and pre-launch list.

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