Fidelity is planning to launch an NFT trading fund and is considering an acquisition offer for Grayscale

Most Read

Fidelity Investments, the world’s third-largest asset management company with $4.2 trillion in assets under management, is preparing to file an application to launch a Bitcoin exchange-traded fund (ETF) similar to the Grayscale Bitcoin Trust. The company also plans to make an acquisition offer for Grayscale Investments, the largest digital asset management company.

Launching a Bitcoin ETF

Following BlackRock’s Bitcoin ETF filing, Fidelity Investments is also preparing to file a similar application for a Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). Fidelity Investments operates its digital financial operations under the name Fidelity Digital Assets.

Fidelity Investments’ Intent to Acquire Grayscale Investments

Grayscale, owned by Barry Silbert’s Digital Currency Group, has filed a lawsuit against the SEC for denying its request to convert the Bitcoin Trust (GBTC) into a Bitcoin ETF.

Cryptocurrency influencer Andrew Parish believes that with traditional financial companies entering the cryptocurrency industry, he wouldn’t be surprised if Fidelity offers custody services soon. Fidelity Digital Assets already offers an Ethereum ETF in the United States and Bitcoin ETFs on international exchanges. Furthermore, they have been involved in Bitcoin mining since 2014 and hold BTC, in addition to providing secure custody services for cryptocurrencies.

So far, neither Fidelity Investments nor Grayscale have confirmed the rumors regarding the Bitcoin ETF filing and the acquisition offer for Grayscale.

The cryptocurrency community has welcomed the news positively and expects Fidelity to launch a Bitcoin ETF as it continues to deepen its presence in the cryptocurrency space.

SourceCoin Gape
[td_block_14 limit="4" category_id="_current_cat"]
- Advertisement -


Latest Crypto Fear & Greed Index