Fidelity Hints at Potential Bitcoin ETF Approvals with New App Listings
Summary:
Fidelity Investments, a renowned stock brokerage service, listed several proposed Bitcoin exchange-traded funds (ETFs) on its web application, hinting at the potential approval of these ETFs. Despite the absence of official approval, the listing has raised anticipation for the sanction of these funds by the United States Securities and Exchange Commission (SEC). On the other hand, some funds like BlackRock iShares Bitcoin Trust and BitWise Bitcoin ETF remain unlisted. The information also stated that the Fidelity's app listing was replicated by the Cboe BZX stock exchange within the same timeframe.
Fidelity Investments, a leading brokerage service, presented a strong hint that several Bitcoin exchange-traded funds (ETFs) might be sanctioned soon as they were displayed on its digital application on January 10. The listed ETFs included ARK 21Shares Bitcoin ETF (ARKB), Vaneck Bitcoin Trust ETF (HODL), Invesco Galaxy Bitcoin ETF (BTCO), Franklin Bitcoin ETF (EZBC) and Wisdom Tree Bitcoin ETF (BTCW), though official approval hasn't been granted just yet.
At the moment of distributing this information, a few other prospective spot Bitcoin ETFs, such as the BlackRock iShares Bitcoin Trust (IBTC), BitWise Bitcoin ETF (BITB), Fidelity Wise Origin Bitcoin Trust (FBTC) and Hashdex Bitcoin ETF, haven't found a place on the application. However, absence from the list doesn't necessarily imply permanent exclusion. Details about these funds on Fidelity seem to be filled in via templates, consisting of standard risk disclaimers and an empty graph. The shares of these funds aren't currently buyable on the site.
The listing of these funds on Fidelity's app strengthens the likelihood of these funds gaining sanction from the United States Securities and Exchange Commission (SEC). Simultaneously, the Cboe BZX stock exchange listed the same ETFs—ARKB, HODL, BTCO, BTCW, EZBC, and FBTC— on their interface. Even though these funds aren't purchasable on Cboe currently and haven't officially been endorsed by the SEC.
On January 9, an erroneous announcement surfaced on the SEC's X account, previously known as their Twitter account, suggesting the Bitcoin spot ETFs had been approved. However, this information was refuted by SEC chair Gary Gensler, who explained that the regulator's X account had been compromised. Meanwhile, Eric Balchunas, an ETF analyst at Bloomberg, predicted that the ETFs might get the green light between 4 and 6 pm EST on January 10.
Published At
1/10/2024 10:49:04 PM
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