United States, March 26, 2021 /AlexaBlockchain/ – Fidelity Investments is planning to launch a Bitcoin ETF as the investment giant works to build its business in digital assets and virtual currency.
FD Funds Management, a subsidiary of Fidelity, said on Wednesday that it plans to provide financial backing for an exchange-traded fund called the Wise Origin Bitcoin Trust.
The firm filed a Form S-1 with the Securities and Exchange Commission on March 24, 2021, a preliminary registration statement for the fund.
Fidelity confirmed that it filed a prospectus to sponsor a bitcoin ETF but said it could not offer further comment because of the preliminary nature of the filing.
Why SEC has not approved any Bitcoin ETF so far?