Fidelity with $4.2 trillion AUM urges the SEC to approve their Bitcoin ETF

One of the largest asset managers is calling on the US Securities and Exchange Commission to approve their new Bitcoin exchange-traded fund.

Fidelity with $4.2 trillion AUM urges the SEC to approve their Bitcoin ETF

According to Bloomberg, Fidelity Investments, a reputable asset manager with a history of more than 70 years, held a private meeting with SEC officials to approve their new Bitcoin ETF.

Referring to a source familiar with the course of the meeting, Fidelity should have given several reasons why the US regulator should approve the product. These reasons included, in particular, the increase in holders of BTC and other cryptocurrencies, as well as the existence of similar crypto funds in other countries.

Firms should be able to meet investor demand for direct exposure to Bitcoin ----- because the Bitcoin market has matured and can support them. stated in the presentation

Regarding the SEC's position on the Bitcoin ETF, the Chairman of the U.S. Securities and Exchange Commission Gary Gensler should have recently said that if this crypto product meets the strictest rules for investment funds, they may consider doing so.

Fidelity Investments applied for its Bitcoin Fund called Wise Origin Bitcoin Trust already in March this year.

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