Asset manager Fidelity filed for registration of securities with the US Securities and Exchanges Commission (SEC) for its spot Bitcoin ETF. This comes amid widespread expectations around the approval of spot ETF filings before January 10, 2024.
Also Read: Crypto Lawyer Names Legal Implication of Spot Bitcoin ETF Denial
Fidelity Bitcoin ETF Shares As Securities
According to the form 8-A filing with the U.S. SEC, Fidelity filed for registration of shares of beneficial interest of Fidelity Wise Origin Bitcoin Fund. The filing comes amid widespread uncertainty around whether or not crypto assets like Bitcoin are securities or commodities. The Bitcoin ETFs track Bitcoin BTC price and trade on traditional markets rather than cryptocurrency, providing indirect exposure to the crypto space.
In the recent times, the United States Commodity Futures Trading Commission (CFTC) and the SEC issued contrasting comments around whose jurisdiction the trading of Bitcoin and other cryptocurrencies falls,
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