Asset manager Fidelity has filed with the US Securities and Exchanges Commission (SEC) to register securities for its spot Bitcoin ETF. This comes amid widespread expectations for spot ETF applications to be approved before January 10, 2024.
Also read: Crypto Lawyer Cites Legal Implications of Rejection of Spot Bitcoin ETFs
Fidelity Bitcoin ETF shares as securities
According to Form 8-A filed with the US Securities and Exchange Commission (SEC), Fidelity applied to register beneficial interest shares in the Fidelity Wise Origin Bitcoin Fund. The filing comes amid widespread uncertainty about whether crypto assets like Bitcoin are securities or commodities. The Bitcoin ETFs track the Bitcoin BTC price and trade on traditional markets rather than cryptocurrencies, providing indirect exposure to the crypto space.
Recently, the U.S. Commodity Futures Trading Commission (CFTC) and the SEC have issued conflicting comments on whose jurisdiction trading Bitcoin and other cryptocurrencies falls, causing widespread uncertainty among traders and investors.
ETF approval before January 10th?
Goldman Sachs is reportedly currently in consultations with BlackRock and Grayscale to become an “Authorized Participant” (`), which could be another Wall Street bank commitment to the Bitcoin ETF space. JP Morgan was previously mentioned as lead ` in Blackrock's recent filing for its ETF application. Meanwhile, it remains to be seen whether SEC officials will make an official ETF approval announcement locally early next week, during the January 8-10, 2024 window.
Previously, CoinGape reported that Fidelity's spot Bitcoin ETF was added to the active and pre-launch list of the Depository Trust & Clearing Corporation (DTCC). The Fidelity Spot ETF was listed on DTCC under the ticker symbol FBTC. Subsequently, the Bitwise Spot Bitcoin ETF was also added to the DTCC's active and pre-launch list.
Also read: Crypto transactions over $10,000 will be subject to stricter IRS scrutiny under new US regulations
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.