The listing of Fidelity’s FBTC ETF aligns with the broader anticipation among investors and industry players regarding the SEC’s potential approval of various spot Bitcoin ETFs. Currently, Bitcoin’s price stands at $43,513, reflecting the market’s optimism. Notably, Fidelity’s macro strategists have recommended minimal portfolio allocations to Bitcoin due to its strong performance compared to traditional benchmarks like the S&P 500. They also expressed expectations of forthcoming regulatory endorsements for cryptocurrency products.
Looking ahead, the SEC may collectively approve several spot Bitcoin ETFs between January 6-10, 2024. This strategic timing is intended to prevent any single entity from gaining an unfair advantage in the market. Among the industry giants awaiting decisions are Fidelity and Blackrock (NYSE:BLK). The SEC has also extended the public comment period on a related Ethereum ETF proposal submitted by Fidelity, indicating a thorough evaluation process.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Source: Cryptocurrency - investing.com
