- On June 15, 2023, Blackrock requested a place Bitcoin ETF using the SEC.
- Fidelity has $4.2 trillion in assets under management (AUM).
With what can be a watershed moment for that Bitcoin exchange-traded fund (ETF) industry, prominent firms are hurrying to submit applications towards the U.S. SEC in June 2023. On June 15, 2023, Blackrock, the greatest asset manager on the planet, applied for the similar, also it was rapidly adopted by competitors Invesco, WisdomTree, and Bitwise.
Like a group, these corporations oversee global assets worth trillions of dollars, thus their registrations are anticipated to supply a huge boost towards the cryptocurrency market.
Massive Boost for Bitcoin
Consequently, this can aid Bitcoin in overcoming the industry’s most pressing issue: altering the angle around cryptocurrencies among established participants within the markets. Fidelity Investments was stated to become about to submit a place Bitcoin ETF application earlier. Based on reports, the company is in a position to submit the applying.
Furthermore, the 3rd greatest asset manager on the planet, based on Wu Blockchain, was about to obtain a place Bitcoin ETF. Fidelity has $4.2 trillion in assets under management (AUM), therefore its submission is a superb boost for that sector in general.
The Bitcoin ETF application will be the asset management firm’s second significant effort to go in the cryptocurrency market, following the joint launch from the non-custodial cryptocurrency exchange EDX Markets.
Their leaders have been eyeing the cryptocurrency industry for a while, plus they were already following through on the majority of fronts to benefit from it. The organization posted three trademark applications in December 2022, all associated with the Metaverse.
Furthermore, when the Bitcoin ETF filing goes through, the cost of Bitcoin could see a enjoyable boost, possibly reaching $31,000 and beyond.
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