Fidelity to discuss the possibility of a BTC-based ETF launch with SEC

Fidelity Investment is on the way to bring Bitcoin-ETFs to the USA. Thomas Jessop, the Head of the corporation’s digital department, initiated a meeting with SEC representatives to explain the relevance of a Bitcoin-based ETF launch approval.

Thomas highlighted that digital currencies are widely used around the world, and crypto-related products are of much demand as well. The Fidelity Investment representatives focused on the progressive countries where Bitcoin-ETFs are already launched (Canada, Germany, Switzerland).

“Bitcoin has enough liquidity and essential volumes to correspond with the SEC standards. Corporations need to meet the demands of investors who expect to access Bitcoin directly” – comment on the current market situation Fidelity experts.

Fidelity submitted an application for a Bitcoin-based fund launch in March 2021. The application is still pending, as the SEC experts have no clear position towards cryptocurrencies. According to Bloomberg, the allowance to run a Bitcoin-ETF is expected to take place in October.

Meanwhile, Fidelity is not the only company that has submitted such an application. AdvisorShares, Invesco, Galaxy Digital, ProShares, Valkyrie Investments, and VanEck are among the corporations to run such an ETF fund as well. Bloomberg experts call ProShares the closest to get the allowance.