Bitcoin price pumps to local high as $10 billion Fidelity updates its ETF application

The bitcoin price seems to have responded to increasing likelihood of a spot ETF from the financial giant.Excitement around proposed spot bitcoin exchange-traded funds (ETFs) certainly seems to be manifesting itself in price gains, as bitcoin once again hit local highs on a bullish application update.
BTC jumped above $28,800 today as Fidelity made amendments to its spot bitcoin ETF in a move that suggests the U.S. Securities and Exchange Commission (SEC) is working with applicants toward the approval of such a product. The gain came a few days after the market had a similar reaction to a quickly-debunked rumor that BlackRock’s bitcoin ETF application had been approved.

Speaking with educator Natalie Brunell on a recent episode of Coin Stories. Head of Research at Fidelity Digital Assets Chris Kuiper described why there is so much enthusiasm surrounding a potential spot bitcoin ETF offering.

“People look at that and they say, why would I do that? Or even, why would I buy through a brokerage or exchange versus holding (bitcoin) myself?” Kuiper said. “Other people might find it’s easier to hold it with a custodian and other people might find it a lot easier to buy an ETF. So, it all depends on people’s risk preferences, time horizons, their comfort level.”

5 Likes

wow nicn rnad matn

3 Likes

I sha know that soon the bulls will set in

2 Likes

Fake pumd, go to 20000$ soon

1 Like

30k revisit soon

2 Likes

Nice take. I like if

2 Likes