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Fidelity Investments is preparing to launch its own bitcoin exchange-traded fund as the investment giant works to cement its clout in the market for digital assets and virtual currency.
FD Funds Management, a subsidiary of Fidelity, said on Wednesday that it plans to provide financial backing for an exchange-traded fund called the Wise Origin Bitcoin Trust.
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FD Funds Management, a subsidiary of Fidelity, said on Wednesday that it plans to provide financial backing for an exchange-traded fund called the Wise Origin Bitcoin Trust.
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I thought this was interesting. Having more, larger, traditional, players involved in this can only be a positive. Both from having the ability to open up the market to even more participants who might not have had the wherewithal to invest their retirement funds outside an ETF and to having more availability of bitcoin via a US ETF. Who knows how long it will take, but with enough people pushing for it, it certainly helps.
https://www.cnbc.com/2021/03/25/fidelity-wants-to-launch-a-bitcoin-etf-cryptocurrency-sec.html