Investment giant Fidelity Investmentssent a registration statement for a spot Bitcoin-ETF with the SEC.
The company joined BlackRock, Valkyrie, as well as WisdomTree and Invesco, which have taken similar steps in the past two weeks.
Media circulated rumors on June 27 that Fidelity was prepared to enter the ETF race.
Fidelity Digital Assets Services, the subsidiary, will act as custodian for the Wise Origin Bitcoin Trust, with FD Funds Management as sponsor, according to the document.
“A significant portion of our clients are interested in and own digital assets. We aim to provide […] products to meet their financial needs and goals,” said a company spokesperson.
The Fidelity filing mentions the so-called joint oversight agreement mechanism, which became a key addition to BlackRock’s proposal.
In 2021 the company filed an application for a spot exchange-traded fund based on digital gold, but, like rivals, did not obtain SEC approval.
The Commission carved out an exception for the products ProShares and Valkyrie Investments, which are based on Bitcoin futures on the Chicago Mercantile Exchange.
As reported in the SEC’s list of applications for spot Bitcoin ETFs, ARK Invest and 21Shares have priority over BlackRock and others based on submission times.
Circle CEO Jeremy Allaire predicted that the recent wave of filings for spot gold-backed ETFs would lead to regulatory approval.
Earlier, the crypto-asset platform EDX Markets began operating, focused on conforming to the standard structure of financial markets. Among its founders — Fidelity Digital Assets, Charles Schwab, Citadel Securities.
Earlier, the Fidelity subsidiary launched a service for trading Bitcoin and Ethereum.