{"id":49536,"date":"2021-09-15T19:22:48","date_gmt":"2021-09-15T16:22:48","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49536"},"modified":"2025-09-02T13:08:03","modified_gmt":"2025-09-02T10:08:03","slug":"fidelity-presses-sec-on-approval-of-bitcoin-etf-filing","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/fidelity-presses-sec-on-approval-of-bitcoin-etf-filing\/","title":{"rendered":"Fidelity presses SEC on approval of Bitcoin-ETF filing"},"content":{"rendered":"

Tom Jessop, head of Fidelity Investments\u2019 digital assets division, and his colleagues at the meeting<\/a> with SEC<\/span> officials presented arguments in favour of approving a Bitcoin ETF<\/span>.<\/p>\n

Among them was the push to popularisation cryptocurrencies, which, among other things, is reflected in rising demand for cryptocurrency-related products and the appearance of similar funds in other countries.<\/p>\n

Representatives from Fidelity drew attention to the structures launched around the first cryptocurrency in Canada, Germany, Switzerland and Sweden.<\/p>\n

The financial group also highlighted that the market has reached a maturity level that allows relaxing the strict compliance with the Securities Act of 1933.<\/p>\n

Thus the experts commented on the statement<\/a> by SEC Chairman Gary Gensler on the conditions for approving the SEC’s Bitcoin ETF \u2014 compliance with the Investment Company Act of 1940 and CME<\/span> futures as its underlying asset.<\/p>\n

\n

“Launching such products does not represent a necessary intermediate step before the launch of an ETP. Firms should satisfy investors’ demand for direct use of Bitcoin. The market has matured for this.”<\/em>, the specialists noted.<\/p>\n<\/blockquote>\n

Fidelity believes Bitcoin has reached both high liquidity and ‘substantial size’ by the SEC’s own standards.<\/p>\n

The financial conglomerate filed an application<\/a> to launch a Bitcoin-based exchange-traded fund, Wise Origin Bitcoin Trust, in March 2021. In May the regulator began reviewing it<\/a>.<\/p>\n

In July, Fidelity Digital Assets announced<\/a> a 70% expansion of its staff due to institutional interest in cryptocurrency.<\/p>\n

As noted, Grayscale Investments’ head of digital assets Mike Sonnenshein urged<\/a> the SEC to approve a Bitcoin ETF based on futures as well as spot-based products.<\/p>\n

In August, Bloomberg analysts predicted<\/a> that the Commission would approve a Bitcoin ETF by the end of October. The frontrunner, they said, was the ProShares filing.<\/p>\n

VanEck<\/a>, Valkyrie Investments<\/a>, Invesco<\/a>, Galaxy Digital<\/a> and AdvisorShares<\/a> have also filed applications to launch products in line with the regulator’s latest guidance.<\/p>\n

Subscribe to ForkLog updates on VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

Tom Jessop, head of Fidelity Investments\u2019 digital assets division, and his colleagues at a meeting with SEC officials laid out arguments in favour of approving a Bitcoin ETF.<\/p>\n","protected":false},"author":1,"featured_media":49537,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1248,36,128,1211,26],"class_list":["post-49536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-fidelity-investments","tag-regulation","tag-sec","tag-stock-market","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=49536"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49536\/revisions"}],"predecessor-version":[{"id":49538,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49536\/revisions\/49538"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/49537"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=49536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=49536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=49536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}