Bitcoin Briefly Pushes Above $31K After Fidelity Spot ETF Report
Fidelity previously applied for a spot bitcoin ETF in 2021, but the effort was rejected by the SEC.
Bitcoin (BTC) saw a mid-morning price surge after asset management giant Fidelity was preparing to file for a spot bitcoin ETF as soon as Tuesday.
The news prompted the price of bitcoin to rise from $30,600 to $31,000 in the space of a few minutes, though that quickly reversed, with the crypto trading back to $30,500 at press time, according to .
“We are not able to confirm or share an update,” a Fidelity Investments spokesperson said in a statement to CoinDesk.
Fidelity previously applied for a spot bitcoin ETF in 2021, but its filing was rejected by the U.S. Securities and Exchange Commission (SEC) in 2022.
Earlier in June, fellow asset management giant BlackRock set off a flurry of spot bitcoin ETF filings and re-filings – not to mention a sizable rally in the bitcoin price – when its iShares unit to the SEC for its own such fund.
Fidelity-backed EDX Markets, a crypto exchange aimed at large financial institutions, one week ago in the U.S.
Edited by Stephen Alpher.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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