Fidelity's New Venture: SEC Registration Filed for Bitcoin ETF

• Fidelity's Bitcoin ETF Registration with SEC
• Registration: An Introductory Process
• Reactions to Fidelity's Spot Bitcoin ETF
• Next Steps in the Registration Process
• SEC's Review of Securities Registration
• Timeframe and Implications

Fidelity's Bitcoin ETF Registration with SEC

Fidelity, a colossal asset manager commanding $4.5 trillion, has officially registered securities with the Securities and Exchange Commission (SEC) for its proposed spot Bitcoin$42,260 -0.64% Exchange Traded Fund (ETF). This registration marks another noteworthy stride towards the potential endorsement of one of the earliest Bitcoin ETFs in the United States.

Registration: An Introductory Process

Registering securities denotes the initial phase for the SEC to gather data on Fidelity's intended Bitcoin ETF. Fidelity has initiated various meetings with the SEC to discuss the application and enlighten them about the significance of the proposed ETF. The firm submitted the plans for its Bitcoin ETF previously in June and has been rapidly navigating through the application process. Moreover, Fidelity submitted a pending Spot Ethereum$2,315 -2.42% ETF application to the SEC in November.

Reactions to Fidelity's Spot Bitcoin ETF

While numerous observers are celebrating the registration of Fidelity's spot Bitcoin ETF and its securities as a positive change, there is a subset of skeptics voicing their concerns about these investment vehicles.

Next Steps in the Registration Process

SEC's Review of Securities Registration

Following this registration, the next milestone for Fidelity entails the SEC reviewing the securities registration, which has already been received. Numerous specialists anticipate Spot Bitcoin ETF approval to be granted as early as this month, and no later than the conclusion of Q1 2024.

Timeframe and Implications

The duration of this next phase in the process remains uncertain. Nevertheless, the news may spur other asset management firms to consider submitting their own securities registrations in the near future.

Edited by Jonathan Stoker