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Fidelity Applies To Launch Bitcoin ETF

The financial corporation Fidelity Investments has applied to launch the Wise Origin Bitcoin Trust, an exchange-traded fund (ETF).

According to documentFidelity Digital Assets will act as custodian.

Fidelity Service Company, Inc. has been announced as a fund manager and sponsored by FD Funds Management LLC. The address of the latter coincides with the location of the Fidelity headquarters in Boston, Massachusetts.

The corporation intends to use its own price index for the first cryptocurrency.

“The trust provides direct access to bitcoin. Its shares are valued on a daily basis in accordance with the methodology used in the index, ”the application says.

What is Bitcoin ETF?

Earlier, similar documents were sent to the US Securities and Exchange Commission VanEck, WisdomTree, NYDIG, Bitwise and Valkyrie Digital Assets… At the time of writing, the regulator has not approved any of the requests.

March 20 led by Anthony Scaramucci SkyBridge Capital and consulting firm First Trust Advisors have applied to launch Bitcoin ETF.

As a reminder, the asset management company Grayscale Investments opened nine vacanciesassociated with a publicly traded fund.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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