{"id":118436,"date":"2021-03-25T00:27:06","date_gmt":"2021-03-25T00:27:06","guid":{"rendered":"https:\/\/precoinnews.com\/?p=118436"},"modified":"2021-03-25T00:27:06","modified_gmt":"2021-03-25T00:27:06","slug":"fidelity-applies-to-launch-a-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/fidelity-applies-to-launch-a-bitcoin-etf\/","title":{"rendered":"Fidelity applies to launch a bitcoin ETF"},"content":{"rendered":"<figcaption>FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken March 15, 2021. REUTERS\/Dado Ruvic\/Illustration<\/figcaption><p>(Reuters) &#8211; Fidelity applied on Wednesday to launch an exchange traded fund to track the performance of bitcoin, the latest move on Wall Street to embrace the digital currency.<\/p>\n<p>Fidelity&#8217;s Wise Origin Bitcoin Trust would hold bitcoin and value its shares based on prices from major cryptocurrency exchanges, including Coinbase and Bitstamp, according to a preliminary filing here to the Securities and Exchange Commission.<\/p>\n<p>\u201cThe digital assets ecosystem has grown significantly in recent years, creating an even more robust marketplace for investors and accelerating demand among institutions. An increasingly wide range of investors seeking access to bitcoin has underscored the need for a more diversified set of products offering exposure to digital assets,\u201d Fidelity said in an emailed statement.<\/p>\n<p>Fidelity\u2019s filing follows bitcoin\u2019s surge to an all-time high of nearly $62,000 this month, the latest milestone in a meteoric rise partly fueled by bigger U.S. investors.<\/p>\n<p>Earlier this week, former Trump administration White House communications director Anthony Scaramucci jumped into the fray for a bitcoin exchange-traded fund with his SkyBridge Capital joining forces with First Trust Advisors, according to a filing.<\/p>\n<p>Coinbase Global Inc, the largest U.S. cryptocurrency exchange, said last week that recent private market transactions had valued the company at around $68 billion this year ahead of a planned stock market listing.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/us-crypto-currency-fidelity\/fidelity-applies-to-launch-a-bitcoin-etf-idUSKBN2BG3EX\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: A representation of virtual currency<\/p>\n","protected":false},"author":3,"featured_media":118435,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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