The product is called Fidelity Advantage Bitcoin ETF (FBTC) and collects physical bitcoins directly. This means that the fund is actually buying BTC rather than getting exposure through a derivative.
Fidelity Investments is currently managed with $ 4.2 trillion in assets and is one of the leading asset management companies in the world.
The giant made this decision based on the high demand from customers and chose Canada because the US authorities failed to provide further clarification on the matter.
The move also comes days after Fidelity received Canadian regulatory approval to roll out the country’s first institutional BTC solution.
Canada is no stranger to Bitcoin ETF products. Earlier this year, its first product grossed over $ 400 million in assets within two days of its launch.
Other companies that have launched a spot BTC ETF include Galaxy Digital, led by Michael Novogratz and CI GAM.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Annie
According to Cryptopotato
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…
As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…
With the crypto market reaching new peaks, many are eager to discover digital currencies poised…
XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…
Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…
There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…
This website uses cookies.