Investment firm Fidelity Investments intends to file an application to launch a spot Bitcoin ETF.
The company made its first attempt to create an exchange-traded fund in 2021. However, the US Securities and Exchange Commission (SEC) rejected the application early last year, citing a lack of joint oversight agreements and a lack of crackdown on fraudulent or manipulative practices.
According to Fidelity's website, the organization manages more than $11 trillion in assets.
The company has thus joined the ETF race alongside Valkyrie, BlackRock, WisdomTree and Invesco, which have also filed applications to launch their own Bitcoin ETFs.
The SEC has rejected almost all ETF applications to date, with the sole exception of those filed by ProShares and Valkyrie Investments, which are based on Chicago Mercantile Exchange bitcoin futures.
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