There is news regarding Fidelity’s spot Bitcoin ETF application. Indeed, its new financial instrument called “Fidelity Advantage Bitcoin EFT (FBTC)” was successfully placed on the Depository Trust and Clearing Corporation (DTCC). Are we moving towards approval of this tracker? Zoom !
A new milestone for the Fidelity Advantage Bitcoin ETF
Fidelity, an American multinational specialized in asset management valued at $2.6 trillion, would not want to miss the crypto ETF train. Thus, its administrators did not hesitate to reveal their intention to file an application relating to a bitcoin spot EFT last June.
“ Fidelity’s Spot Bitcoin ETF was listed on the DTCC under the ticker $FBTC. »
According to the media Watcher Guru, Fidelity Investments finally managed to list its Spot Bitcoin ETF, the FBTC, on the DTCC. This appears to be a new step taken by this financial giant as the expected date for the approval of these very controversial new products.
Why choose Depository Trust and Clearing Corporation? DTCC is a provider of clearing and settlement services to major exchanges, such as NASDAQ. If Fidelity decided to set its sights on DTCC, it is because this seems more conducive to digital assets like cryptos.
Moreover, this financial institution has already agreed to list two other spot Bitcoin ETFs:
- BlackRock’s iShares Bitcoin Trust (iBTC);
- and the BTCO of Invesco Galaxy.
Fidelity Investments therefore becomes the 3e applying to appear on the DTCC register to better base your Spot BTC ETF.
Note also that Fidelity is the author of another request for a spot ETF on Ethereum in mid-November. If approved, its clients will be able to trade shares around the Fidelity Ethereum Fund on the Cboe BZX exchange.
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