Odaily News: According to informed sources, Fidelity is expected to submit an application for a spot Bitcoin ETF, possibly as early as Tuesday. This will be Fidelity's second attempt to launch such a product. In 2021, it submitted an application for a Bitcoin spot ETF called Wise Origin Bitcoin Trust, but it was rejected by the US SEC in early 2022.



It is reported that after BlackRock submitted an application for a spot Bitcoin ETF on June 15th, other asset management companies have also subsequently submitted similar applications, including Invesco, WisdomTree, and Bitwise.



Fidelity has tens of millions of retail brokerage clients and manages over $11 trillion in assets. The company has also been involved in the cryptocurrency business for a long time. Since 2018, it has been operating institutional custody and trading services in the market. In terms of asset management, the company has been offering fund products to European clients through Fidelity International since February 2022. (The Block)