Fintech

Fidelity is exploring launch of a bitcoin ETF

The SEC has repeatedly rejected applications for bitcoin ETFs

Fidelity Investments unveiled plans 24 March to launch an exchange-traded fund that tracks the price of bitcoin, furthering the money manager’s push to bring cryptocurrencies to mainstream finance.

The ETF, called Wise Origin Bitcoin Trust, will aim to match an index that takes spot prices from various bitcoin markets, including popular exchanges, Fidelity said in a securities filing. Fidelity Digital Assets will serve as the fund’s custodian, storing Wise Origin’s holdings.

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