The fund will be under the purview of FD Funds Management, a Fidelity subsidiary, and will be called the Wise Origin Bitcoin Trust, if approved. It is unclear if the SEC, which has claimed the market may not yet be ready for such a product, will approve the plan. To date, it has not yet granted any companies permission to start a Bitcoin ETF.
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Fidelity Bitcoin ETF Application Now in Hands of the SEC
Fidelity Investments is planning to launch a Bitcoin ETF and has filed the necessary paperwork with the Securities and Exchange Commission to that end. So reports CNBC.
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