Fidelity Files an Application for a Bitcoin ETF
Fidelity Investments unveiled plans Wednesday to launch an exchange-traded fund that tracks the price of bitcoin, furthering the money manager’s push to bring cryptocurrencies to mainstream finance. The Bitcoin exchange-traded from the company would monitor the cryptocurrency using prices from US-based exchanges. Fidelity’s Wise Origin Bitcoin Trust will use underlying rates from Bitstamp, Coinbase, Gemini, itBit, and Kraken, according to a filing with the Securities and Exchange Commission.The application comes a month after the first Bitcoin ETFs in North America started trading in Canada, including the Purpose Bitcoin...