Boston-based investment giant Fidelity has amended its Bitcoin spot exchange-traded fund application as asset mangers race to be the first to bring a Bitcoin ETF to market. The fund manager addressed a number of topics in its amendment but largely focused on the risk associated with such a product, which would give investors exposure to the digital asset via shares traded on a stock exchange. Crypto market investors have been waiting for a Bitcoin ETF for nearly a decade, and recent developments have analysts now saying a Bitcoin ETF is closer than ever before. ETFs are investment vehicles that track the value of an underlying asset, like gold, foreign currencies, or Bitcoin. Applications for a Bitcoin ETF have gone through a number of drafts, but the SEC has been reluctant to approve one due to the possibility of price manipulation. However, experts believe that it’s only a matter of time before one gets the green light after big players like BlackRock and Grayscale have applied for a Bitcoin ETF. Analysts at Bloomberg Intelligence have estimated that there is a 90% chance a Bitcoin ETF will get approved in January. Fidelity Digital Assets recently released a report that Bitcoin is “a superior form of money.” Bitcoin is currently trading for $28,257, down 1% in the past 24 hours but up 4% over seven days. Thus, it is likely that a Bitcoin ETF will be approved soon, allowing more investors to access the digital asset. #BitcoinETF #Fidelity #Bitcoin #Investment #CryptoNews
You can read more about this topic here: Decrypt: Bitcoin ETF Hopes Stay Alive as Investment Giant Fidelity Revises Bid
