Fidelity Digital Assets – the $4.5 trillion asset manager’s crypto-arm – has resubmitted its filing to launch a Bitcoin Spot ETF in the United States.
Parts of the filing are virtually identical to BlackRock and ARK Invest’s respective submissions earlier this month.
Fidelity Tries Again
According to a 19-b4 filing with the U.S. Securities and Exchange Commission (SEC) on Thursday, the proposal would allow the Cboe BZX Exchange to list and trade shares of Fidelity’s Wise Origin Bitcoin Trust.
Much like ARK on Wednesday, Fidelity began by rebutting the Commission’s justification for denying previous spot ETF applications, such as its own. The SEC’s main argument is that the applicants thus far have failed to form a surveillance sharing agreement (SSA) with a regulated market of significant size – and that CME Bitcoin Futures don’t count.
“In every prior approval order for Commodity-BasedTrust Shares, there has been a derivatives market that represents the regulated m
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