Photographer: Andrey Rudakov / Bloomberg
Photographer: Andrey Rudakov / Bloomberg
Fidelity Investments signed up to list a Bitcoin exchange-traded fund that would track the cryptocurrency using the prices of U.S. exchanges.
The company’s Wise Orgin Bitcoin Trust would use underlying prices of exchanges that include Bitstamp, Coinbase, Gemini, itBit and Kraken, Fidelity said in a statement. filing on Wednesday with the Securities and Exchange Commission.
The application arrives a month after the first North American Bitcoin ETFs, including the Bitcoin ETF goal and another from Evolve Funds Group, started trading in Canada.
Several other Bitcoin ETF proposals in the United States, including those presented by crypto founders Gemini, Cameron and Tyler Winklevoss, have not been approved by the SEC.
“The digital asset ecosystem has grown significantly in recent years, creating an even more robust market for investors and accelerating demand among institutions,” said Fidelity in an e-mailed statement. “An increasingly broad range of investors seeking access to Bitcoin has underscored the need for a more diverse set of products offering exposure to digital assets.”
– With the help of Claire Ballentine