SEC Acknowledges Bitcoin ETF Applications from Fidelity and More

Joshua Ramos
Source: CNBC

Following a similar acknowledgment reported earlier today regarding BlackRock’s Filing, the US Securities and Exchange Commission (SEC) has acknowledged the Spot Bitcoin ETF applications from Fidelity, and other firms.

Among them, the SEC has acknowledged applications from VanEck, WisdomTree, and Invesco. Although the development does not indicate impending approval or rejection, it is notable. Specifically, it shows that these applications have taken another step forward.

Also Read: Australia Receives First Spot Bitcoin ETF Application

SEC Acknowledges More Bitcoin ETF Applications

The influx of Spot Bitcoin ETF applications has been a rather surprising story for the digital asset sector. Indeed, over the last month, asset management behemoths like BlackRock and Fidelity have sought to develop their own Bitcoin Exchange-Traded Funds (ETFs). Now, these application processes have taken another step forward.

The SEC has officially acknowledged the Spot Bitcoin ETF applications from Fidelity, VanEck, WisdomTree, and Invesco. Indeed, a similar acknowledgment was reported earlier today for BlackRock, with companies like ARK Investment and BitWise receiving acknowledgment from the regulator before that.

The SEC has acknowledged Spot Bitcoin Applications from Fidelity, VanEck, WisdomTree, and Invesco after acknowledging BlackRock earlier today.
Source: Pixabay

Bloomberg reporter James Seyffart reported the host of SEC acknowledgments that took place today. Moreover, he noted Galaxy Digital as also receiving a similar Bitcoin ETF acknowledgment from the firm. All arriving as the agency could be poised to approve the very first Spot Bitcoin ETF in the United States.

Also Read: Europe’s First Bitcoin ETF Goes Live After a Year-Long Delay

Many of these firms have been confronted with the SEC’s reluctance to approve a Spot Bitcoin ETF. However, surveillance-sharing agreements have been present in most. An inclusion that the firms hope could curtail some market manipulation concerns that the SEC has cited previously.

That remains to be seen, but the acknowledgments show that the clock has officially been set on the filings. Only time will tell how the agency responds, but the potential for the product remains. Earlier today, BlackRock CEO Larry Fink noted crypto’s potential to transcend international currency.