Cryptocurrency Q&A
Why did fidelity reject a spot bitcoin ETF application?
Why did fidelity reject a spot bitcoin ETF application?
Riccardo
Sun Jun 16 2024
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5 answers
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Could you please explain the reasons behind Fidelity's rejection of the spot Bitcoin ETF application? I'm curious to know what factors influenced their decision, and whether this rejection reflects any broader concerns or challenges within the cryptocurrency and financial markets? It would be helpful if you could elaborate on the regulatory, technical, or market-related reasons that might have contributed to this outcome. Thank you for your insights.
5 answers
emma_grayson_journalist
Tue Jun 18 2024
The SEC's rejection of Fidelity's Wise Origin Bitcoin Trust application on Thursday marks a continuation of its stance on spot bitcoin ETFs. This decision comes hot on the heels of a similar rejection just seven days prior, involving First Trust and SkyBridge Capital's application.
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BlockProducer
Tue Jun 18 2024
The SEC's preference for bitcoin futures-tracking ETFs over spot bitcoin ETFs has been well-established. This trend suggests that the regulatory body views futures-based products as more compliant and less risky than those directly investing in physical bitcoin.
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HallyuHeroLegendaryStar
Mon Jun 17 2024
Fidelity's Wise Origin Bitcoin Trust aimed to provide investors with exposure to the price of bitcoin through a traditional ETF structure. However, the SEC's rejection highlights the challenges in obtaining approval for spot bitcoin ETFs in the United States.
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Federico
Mon Jun 17 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services including spot trading, futures trading, and wallet management. These services cater to a diverse range of investors, from retail traders to institutional investors.
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Isabella
Mon Jun 17 2024
BTCC's spot trading platform allows users to buy and sell cryptocurrencies at current market prices. Its futures trading platform, on the other hand, enables investors to speculate on the future price movements of cryptocurrencies. Additionally, BTCC's wallet service provides a secure way to store and manage digital assets.
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