Reported by Cryptoslate, Fidelity Investments refiled its application for its spot Bitcoin exchange-traded fund (ETF), called Wise Origin Bitcoin Trust, on June 29.
Fidelity first filed its application in 2021, but it was rejected by the SEC in January 2022, along with other spot Bitcoin ETF applications. To date, no institution that has filed a spot Bitcoin ETF application has received approval.
However, a wave of institutional interest appears to have been sparked by BlackRock‘s spot Bitcoin ETF. Fidelity is the latest to join a spate of such re-applications sparked by BlackRock’s own application earlier in June.
As of June 29, there are now nine pending applications for a spot Bitcoin ETF submitted with the SEC. The other applications were filed by Ark Invest, 21Shares, Bitwise, WisdomTree, Invesco, Valkyrie, and VanEck.
All companies’ applications — excluding BlackRock — have been denied by the SEC in the past two years. BlackRock itself has a long history of ETF approvals — with 575 ETFs approved and only one ever rejected — which has made markets optimistic that this application, too, will be approved.
Related: $1.5 Trillion Asset Manager Invesco Reapplies for Bitcoin ETF
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