Goldman Sachs And Fidelity Have Filed With the SEC for Bitcoin ETFs
Following the increase in popularity of Bitcoin ETFs, many countries, including but not limited to Canada and Brazil, have previously approved Bitcoin ETFs to start trading. Recently, Goldman Sachs, along with Fidelity, has also applied to the US Security and Exchange Commission for Bitcoin ETFs, respectively. If approved, the accessibility of trading Bitcoin would considerably improve.
Goldman Sachs and Fidelity applies for Bitcoin ETFs
It is suggested that both financial giants have applied for Bitcoin ETFs within five days. This would be a crucial step in the promising direction for the cryptocurrency market. The approval of applications would result in both firms having the ability to propose funds that could track the price of Bitcoin within the border of the USA.
Many companies like the popular regulatory compliant Winklevoss-owned cryptocurrency exchange Gemini have attempted getting a Bitcoin ETF approved from the exchange commission. However, they were not so successful, but for quite some time, it is expected, as sooner or later, the time will come when SEC would ultimately approve Bitcoin ETF.
Wise Origin Bitcoin Trust by Fidelity
Wise Origin draws data from the major exchanges trading in America, the report released by Fidelity stated. The filing also notes the dangers of investing in Bitcoin and other cryptocurrencies. However, it also singles out the ground-breaking prospects investing in cryptocurrencies would have.
According to recent reports, FD Fund Management will be the sole sponsor, and Fidelity investment incorporated would act as a supervisor for the Wise Origin Bitcoin Trust.
ARK Innovation by Goldman Sachs
The ARK Innovation ETF would offer accessibility to cryptocurrencies like Bitcoin; however, the press release by Goldman Sachs has been more vague compare to Fidelity. One can say Goldman Sachs is uncertain at this moment of what the ARK Innovation would bring to the market. That said and done, it is clear the intent for exploring cryptocurrencies by the financial giant.
One thing to note is Goldman Sachs has previously backtracked from cryptocurrencies before. Nevertheless, the investment bank has reopened its cryptocurrency trade desk and possibly will even announce a proprietary cryptocurrency.