According to a filing by listing exchange Cboe Global Markets (CBOE.Z) with the SEC, asset manager Fidelity wants to list and trade shares of its Wise Origin Bitcoin Trust spot bitcoin exchange-traded fund again.
Fidelity has applied to list bitcoin ETFs in recent weeks. BlackRock, WisdomTree, Invesco, and VanEck also filed for spot bitcoin ETFs on Cboe BZX, Nasdaq (NDAQ.O), and NYSE Arca, controlled by Intercontinental Exchange Inc (ICE.N).
On June 23, bitcoin reached a one-year high above $31,000 due to “traditional finance” filings.
After a succession of crypto business meltdowns, notably the fall of FTX late last year, which prosecutors allege was running a multi-billion dollar fraud, Bitcoin struggled to gain traction.
Crypto has suffered from regulatory crackdowns. The SEC sued Binance and Coinbase Global (COIN.O), two of the largest crypto exchanges, this month for violating its rules, which they deny.
In January 2022, the SEC denied Fidelity’s spot Bitcoin ETF application. The regulator said the disclosures did not meet fraud and manipulation prevention and investor and public interest standards in all circumstances.
The first bitcoin futures ETF was approved in October 2021, sending volatile bitcoin to an all-time high of $69,000 in November 2021 and fueling hopes for a spot bitcoin ETF.
Spot ETFs track cryptocurrency prices directly, whereas futures-based ETFs track bitcoin futures contracts.
