Fidelity’s Global Macro Director Highlights the Advantage of Owning Bitcoin!

  • Explaining the volatile nature of Bitcoin, Timmer stated that the risk-return ratio of the top cryptocurrency surpasses many assets like the S&P 500 and Gold.
  • Meanwhile, Fidelity’s spot Bitcoin ETF, FBTC, has been listed on the Depository Trust & Clearing Corporation.
  • While there is a chance of approval by the SEC between January 6-10, 2024, it is yet to be seen whether the agency will further delay it for technical reasons.

Fidelity’s Global Macro Director, Jurrien Timmer, talks about the advantage of having Bitcoin in investors’ portfolios.

Fidelity Executive Highlights the Importance of Bitcoin

bitcoin-btc

During a period of rapid price increase for Bitcoin, Fidelity’s Global Macro Director, Jurrien Timmer, suggested that having a small BTC investment in portfolios could be a bet on the upside potential due to the expectation of the approval of the first spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC).

Explaining the volatile nature of Bitcoin, Timmer stated that the risk-return ratio of the top cryptocurrency surpasses many assets like the S&P 500 and Gold. Therefore, he argued that having some BTC in portfolios could “go a long way” and added, “Bitcoin has become its own asset class in terms of risk-return this past decade.”

Meanwhile, Fidelity’s spot Bitcoin ETF, FBTC, has been listed on the Depository Trust & Clearing Corporation. This could be an expectation of approval in the near future. The Depository Trust & Clearing Corporation is a U.S.-based post-trading financial services company that provides clearing and settlement services to financial markets.

Fidelity’s Spot Bitcoin ETF Application

Among many financial giants like Blackrock, Fidelity is also awaiting approval from the SEC for its spot Bitcoin ETF. While there is a chance of approval by the SEC between January 6-10, 2024, it is yet to be seen whether the agency will further delay it for technical reasons. Analysts are expecting multiple applications to be approved collectively to avoid giving the first-mover advantage to a single company.

Previously, it was reported that the SEC initiated a public comment period on the proposed rule change regarding the approval of the spot Ethereum ETF application by Fidelity Investments.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Bitcoin 24h: CEX Net Outflow of 1,609.79 BTC — Binance Leads Outflows, Coinbase Pro Records 2,454.15 BTC Inflow

According to Coinglass data, centralized exchanges recorded a cumulative...

Coinglass Warns Ethereum Could Trigger $1.488B Long Liquidations Below $4,500 or $1.566B Shorts Above $4,800 on CEXs

Coinglass data cited by COINOTAG on September 14 indicates...

Bitcoin Reacts to Fed’s Likely 25bps Cut: Markets Brace for Powell’s Dot Plot and Global Rate Decisions

Recent macro releases — a moderate CPI and PPI...

Vitalik Buterin Announces Ethereum’s 10x Capacity Push via Layer-2 at EthTokyo 2025, Urges Asian Developers

At EthTokyo 2025, Ethereum co‑founder Vitalik Buterin outlined a...

Bitcoin Dominance Drops to 57.35%, Nearing 2025 Low as Matrixport Signals Altseason

COINOTAG reported on September 13 that market data shows...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img