Fidelity Investments has announced plans to launch an exchange traded fund (ETF) that tracks the price of Bitcoin.
FD Funds Management, a subsidiary of Fidelity, on Wednesday submitted an S-1 filing to the Securities and Exchange Commission (SEC) outlining its intention to financially back the ETF.1
In the past year, the price of Bitcoin has jumped 687% to about $52,790.
The ETF, called Wise Origin Bitcoin Trust, will track the cryptocurrency through the Fidelity Bitcoin Index, which takes spot prices from various Bitcoin markets, including popular exchanges. Read more…..
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