Fidelity Updates Spot Bitcoin ETF Claim
The post Fidelity Updates Spot Bitcoin ETF Claim appeared on BitcoinEthereumNews.com. Yesterday, Fidelity Digital Asset submitted to the SEC an updated version of its application to issue an ETF on spot Bitcoin. This is an important move, because it reveals that work is progressing from this point of view. The SEC’s interest For several years now, several parties have been trying to apply to the SEC for approval to issue an ETF on spot Bitcoin in the markets. The SEC had always refused to approve them, but the late August ruling in the Grayscale case effectively forced it to approve them. What’s more, the SEC could have appealed that ruling, but it decided not to, as if to admit that the court that proved it wrong was right. This led to a real turning point. In fact, until now the SEC had always limited itself to postponing the decision as much as possible, and eventually to rejecting all requests it received to that effect, without ever elaborating on it, or asking for more information, or even commenting on it. Instead, after that ruling it changed its attitude. All of a sudden, in fact, he began to take an interest in these requests, for example, starting to respond with useful comments to improve them so that they would be more suitable for approval. Fidelity’s request for the ETF on Bitcoin spot Fidelity’s request is one of those submitted in June, following BlackRock’s resounding move to do so. Everyone knows that BlackRock historically has an approval rate of more than 99 percent for such requests, so as soon as it submitted its request for the issuance of an ETF on spot Bitcoin many believed that it was the right time to submit others as well. Not least because the speculation circulating was that the SEC might approve them all at once in order…
The post Fidelity Updates Spot Bitcoin ETF Claim appeared on BitcoinEthereumNews.com.
Yesterday, Fidelity Digital Asset submitted to the SEC an updated version of its application to issue an ETF on spot Bitcoin. This is an important move, because it reveals that work is progressing from this point of view. The SEC’s interest For several years now, several parties have been trying to apply to the SEC for approval to issue an ETF on spot Bitcoin in the markets. The SEC had always refused to approve them, but the late August ruling in the Grayscale case effectively forced it to approve them. What’s more, the SEC could have appealed that ruling, but it decided not to, as if to admit that the court that proved it wrong was right. This led to a real turning point. In fact, until now the SEC had always limited itself to postponing the decision as much as possible, and eventually to rejecting all requests it received to that effect, without ever elaborating on it, or asking for more information, or even commenting on it. Instead, after that ruling it changed its attitude. All of a sudden, in fact, he began to take an interest in these requests, for example, starting to respond with useful comments to improve them so that they would be more suitable for approval. Fidelity’s request for the ETF on Bitcoin spot Fidelity’s request is one of those submitted in June, following BlackRock’s resounding move to do so. Everyone knows that BlackRock historically has an approval rate of more than 99 percent for such requests, so as soon as it submitted its request for the issuance of an ETF on spot Bitcoin many believed that it was the right time to submit others as well. Not least because the speculation circulating was that the SEC might approve them all at once in order…
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