Leading financial services provider Fidelity announced today that they had filed an application with the US Securities Commission (SEC) to launch a Bitcoin Exchange Traded Fund (ETF). Fidelity is seeking regulator approval to offer its clients direct exposure to Bitcoin prior to rolling out its Wise Origin Bitcoin Trust.
Fidelity is not the only company which is vying for position to release a Bitcoin ETF, with Valkyrie Digital Assets, Purpose Investments, VanEck, QR and Hashdex also filing applications with the SEC recently.
The demand for Bitcoin, and other leading cryptocurrencies, has been growing over the past few months, particularly in light of the king-crypto reaching new All Time Highs in the market. In the past few days, new corporates have been purchasing Bitcoin, most notably Chinese tech firm Meitu, which announced last week it had purchased over $40M worth of Bitcoin and Ethereum earlier in the month, joining Tesla and Microstrategy as other leading companies which had made significant investments in crypto.