Crypto Funds Appear To Have No Chances Before SEC By CoinTelegraph

Fidelity’s Bitcoin ETF Coming: Crypto Funds Don’t Seem to Have a Chance with the SEC

With more than 35 million clients, $ 21 billion in revenue, and $ 3.8 trillion in discretionary managed assets, Fidelity Investments is one of the largest investment management companies in the world. It may take all your weight to break the losing streak of crypto fund sponsors who have taken on the United States Securities and Exchange Commission, SEC.

As reported, Fidelity filed with the SEC on March 24 with a preliminary registration statement on behalf of its Wise Origin Trust, an exchange-traded fund, ETF, that would track Bitcoin’s performance as measured by its Fidelity Bitcoin. Index. This followed similar requests from the SEC this year from WisdomTree, CBOE / VanEck, NYDIG Asset Management, Valkyrie Digital Assets, and SkyBridge Capital.

A Fidelity Bitcoin fund would be an event of some historical significance. According to Nik Bhatia, author of the book Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies and an adjunct professor of finance and business economics at the University of Southern California, this would be bigger than Elon Musk’s purchase of $ 1.5 billion in Bitcoin () for Tesla’s corporate treasury (NASDAQ :), more significant than the fact that PayPal (NASDAQ 🙂 allows its users to buy, sell and hold cryptocurrencies, and greater than Coinbase’s next IPO .

Read the full article on Cointelegraph

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