In a recent wave of increasing institutional interest in Bitcoin, Fidelity Investments has resubmitted a spot Bitcoin ETF application. This step follows similar filings by various prominent financial entities.

On January 27th 2022, the SEC rejected Fidelity’s initial application for a Spot Bitcoin ETF after rejecting applications from First Trust and Skybridge Capital.

However, BlackRock initiated a domino effect by filing a spot Bitcoin ETF application in mid-June. This prompted Bitwise and Invesco to refile their respective applications, marking a growing trend in the industry.

Soon after, WisdomTree, an investment management firm celebrated for its groundbreaking exchange-traded products, submitted an application for its own spot Bitcoin ETF. Further expanding the rapidly growing roster of companies pursuing the launch of spot Bitcoin ETFs, Valkyrie Investments also entered the ring.

Despite the competition, Fidelity leverages its considerable expertise and standing to reinforce the perception that Bitcoin is increasingly winning favor among institutional investors.

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