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Fidelity Raises Compelling Competition with Updated Bitcoin ETF Application

Fidelity Updates its Application for its Bitcoin Spot ETF

Fidelity Investments, a giant in asset management, has recently filed its amended S-1 form with the US Securities and Exchange Commission (SEC) for its Bitcoin Spot ETF, joining other giants like BlackRock and VanEck. Just a reminder, ETF applicants have until early January to submit their final modifications of their Spot ETFs to the SEC.

The key point of Fidelity’s proposal is the low sponsorship fees of its ETF, which have been set at 0.39%, a significantly lower rate than many competitors.

This aggressive pricing strategy could not only attract a wide range of investors, but also incentivize other firms to lower their fees, triggering a competition for the cheapest Bitcoin ETF in the market.

Fidelity Competing with Other American Giants

Fidelity’s proposal has also highlighted the “authorized participants” for its ETF, including Jane Street Capital and JP Morgan Securities, emphasizing the importance of these players in the ETF creation and redemption process.

Furthermore, this latest amended filing from Fidelity comes at a time when other asset managers such as BlackRock, VanEck, Invesco, Valkyrie, Bitwise, WisdomTree, and Franklin Templeton have also updated their own applications for Bitcoin spot ETFs.

The SEC’s decision regarding the proposed Bitcoin spot ETFs is expected on January 10th.

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