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If this passes, billions of dollars will flow into Bitcoin If this passes, billions of dollars will flow into Bitcoin

Fidelity held a private meeting with the SEC to present its proposal for a bitcoin ETF

.

Mutual fund giant Fidelity held

a video conference via WebEx with representatives of the U.S. Securities and Exchange Commission on September 8 to seek approval to launch its BTC exchange-traded fund.

In addition to Fidelity executives, the list of participants included Kyle Murray, vice president of the Chicago-based CBOE futures exchange.

The presentation gave various reasons why the product would be approved by the regulator. Fidelity representatives pointed out that the BTC market has matured, praising its significant trading volume and deep liquidity.

bitcoin etf fidelity source: linkThey

also

mentioned

that both Canadian and European ETFs

are

already

in place

.

Fidelity stressed that investors are eager to gain direct exposure to BTC through exchange-traded products.

While some analysts believe that the SEC may be more inclined to pre-approve a futures-based ETF

, Fidelity’s reasoning shows that this would not necessarily be some sort of interim step.

Fidelity’s longstanding commitment to bitcoin investing was also highlighted. The company began exploring the cryptocurrency’s investment potential back in 2014, well ahead of other Wall Street giants.

In March, FD Funds Management, a subsidiary of Fidelity, filed to launch a bitcoin ETF called the Wise Origin Bitcoin Trust.

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