Fidelity Wants to Launch Its Own Bitcoin ETF

Fidelity, one of the largest financial institutions in the world, is seeking approval from the US Securities and Exchange Commission to launch a Bitcoin ETF, according to a new filing with the SEC.

The exchange-traded fund, which would allow retail investors to bet on the price of Bitcoin without the need to buy and store the cryptocurrency themselves, would be managed by Wise Origin Bitcoin Trust. Fidelity Service Company Inc would serve as the administrator, and Fidelity Digital Assets would custody the physical Bitcoin underlying the ETF, should it be approved.

This story is developing and will be updated.