Fidelity Submits Revised Application for Bitcoin ETF Amid Increasing Confidence Regarding Approval
Fidelity Investments, one of the world's largest asset management firms, has filed an amendment application to its proposed spot Bitcoin (BTC) exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC).
In a Wednesday post on X (formerly Twitter), Bloomberg senior ETF analyst Eric Balchunas revealed that Fidelity has filed a revised version of its Wise Origin Bitcoin Trust.
The amendment addresses crucial aspects such as the secure custody of customers' Bitcoin holdings and the disclosure of risks associated with the regulatory landscape surrounding cryptocurrencies.
Fidelity's move follows similar actions by Ark Invest and Invesco, who recently amended their own filings for spot Bitcoin ETFs.
These developments indicate ongoing discussions between prospective ETF providers and the SEC, leading to a surge in optimistic sentiment among traders and market observers.
James Seyffart, a research analyst at Bloomberg Intelligence, claimed that the communication and amendments between potential Bitcoin ETF issuers and the SEC are positive signs that the approval process is progressing.
"More proof that potential spot Bitcoin ETF issuers are in communication with SEC regarding changes/amendments required for SEC to consider approving," Seyffart posted on X.
"Positive signs (in my opinion)."
As reported, the SEC has seemingly conceded its battle against a Bitcoin ETF as the deadline for an appeal passed on Friday.
With the agency's inability to appeal a key court ruling, many now predict that a Bitcoin ETF will soon make its way to the market, potentially as early as January 10.
The SEC's decision not to challenge the August court ruling in the case of Grayscale vs. SEC is unlikely to be a result of a change of
Read more on cryptonews.com
