Fidelity Refiles for Spot Bitcoin ETF

Asset management giant Fidelity has refiled paperwork for its Wise Origin Bitcoin Trust, a spot bitcoin ETF.

The move comes roughly two weeks after BlackRock's (BLK) iShares unit submitted paperwork for the iShares Bitcoin Trust, also a spot bitcoin ETF.

Since the BlackRock spot ETF filing earlier in June, a number of other fund companies have done similar, including Invesco (IVZ) and WisdomTree, and a report earlier this week said a Fidelity filing was imminent.

Fidelity in 2021 had originally applied to launch the Wise Origin Bitcoin Trust, but that effort was rejected by the U.S. Securities and Exchange Commission (SEC) in 2022.

So far, the SEC has not made a decision regarding any of the new applications. While many seem optimistic about the application from BlackRock – which has received a green light for all of its previous 575 ETF applications, except one – some remain skeptical.

CoinShares’ chief product officer Townsend Lansing said on a podcast Monday that he sees a 10% chance that BlackRock’s application gets approved, arguing that what the SEC wants to see is that the majority of bitcoin trading is facilitated on a U.S. crypto exchange.

The price of bitcoin (BTC) is little-changed on the news at $30,500.
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