Fidelity joins other financial giants in seeking spot bitcoin ETF approval.
Recent lawsuits dampened crypto sentiment, but ETF proposals reignite hope.
SEC’s decision on spot bitcoin ETFs could shape crypto’s institutional future.
In a significant development, Fidelity has formally requested approval for a spot Bitcoin ETF. Consequently, optimism is rebounding within the beleaguered crypto industry. As per a Coingraph tweet, the proposal, sent to the U.S. Securities and Exchange Commission (SEC), seeks to list and trade shares of the Wise Origin Bitcoin Trust on the Cboe BZX Exchange.
Besides Fidelity, other financial giants such as BlackRock, WisdomTree, Invesco, and VanEck dive into crypto. These forays are breathing new life into the sector, dulled by stringent regulatory measures in recent years.
SEC Decisions to Determine Crypto’s Future
However, the crypto world is not without its challenges. The recent lawsuits filed by the SEC against Binance and Coinbase Global have da
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