Fidelity may be considering a bitcoin spot ETF
Fidelity may be planning moves in the crypto market with the launch of a bitcoin spot ETF or a potential acquisition of Grayscale. The world’s third-largest asset manager, Fidelity has grown its digital asset presence significantly over the years. Its cryptocurrency-dedicated offshoot, FDA, received a New York Trust Charter and launched European operations in 2020. The FDA has spearheaded initiatives such as the Fidelity crypto offering, which allows users to trade bitcoin and ethereum along with stocks. The company has also advocated for the inclusion of digital assets in 401(k) investing, illustrating its belief in the long-term potential of cryptocurrencies. The exciting part of the current rumors is the direction Fidelity might be taking. According to Andrew Parish, co-founder of Arch Public, Fidelity might be considering a purchase of Grayscale or an application for a bitcoin spot ETF. UPDATE: @DigitalAssets and @Fidelity is about to make a seismic move in...