According to a Form S-1 document published by the SECurities and exchange commission (sec), asset management giant Fidelity is seeking to establish a bitcoin exchange-traded fund (ETF), which is named WISE ORIGIN BITCOIN TRUST.
According to the document, FD Funds Management LLC is the initiator of the fund, Fidelity Service Company,Inc is the manager, and the address of FD Funds Management is the same as Fidelity's office address in Boston, Massachusetts. Fidelity Digital Assets acts as the custodian.
The filing also explained: "The investment goal of the trust fund is to seek to track the performance of Bitcoin. The index is based on FidelitybitcoinThe performance of index PR is measured and adjusted according to the expenses and other liabilities of the trust. "
In addition, Goldman Sachs also submitted a filing for investment in exchange-traded funds (ETFs).
The record reads: "ETF is an actively managed exchange-traded fund. Under normal circumstances, it will mainly (at least 65% of its assets) invest in domestic and foreign stocks related to the theme of ETF innovation investment".
The fund will focus on investing in companies that meet the theme of "disruptive innovation", which the company defines as "introducing new products or services based on technology, which may change the way the world works." It may or may not include bitcoin.
According to the document, "ETF may indirectly contact cryptocurrencies such as Bitcoin through investment in grantor trust. ETF's exposure to cryptocurrencies may change over time, so this exposure may not always exist in the ETF's portfolio. "
The SEC rejected all applications in the past, but some people bet that the change of its leadership, coupled with wider institutional recognition, will lead to more positive crypto sentiment. Gary Gensler, chairman of SEC, is known for his open attitude on digital assets, but there are still some problems in security and custody in cryptocurrency ETF.
Ric Edleman, founder of RIA Digital Assets Committee, said: "I believe we will see Bitcoin ETF in 18 months, and I have said it for five years." "We are all looking forward to the Bitcoin ETF, but we have to ask ourselves, when it comes out, what will the price of Bitcoin be?"
Last week, Tianqiao Capital submitted an application for Bitcoin ETF. In January this year, Valkyrie, an alternative asset management company, applied for its own bitcoin ETF, and Vaneck applied for Vaneck Bitcoin Trust Fund in December last year. SEC began to make a decision on VanEck's application last week and had 45 days to decide whether to accept it.
Earlier this month, Goldman Sachs revealed that it would restart its digital asset trading platform and start trading bitcoin futures.
Goldman Sachs and other major financial institutions try to meet the increasing demand of customers for digital asset exposure, including Morgan Stanley, JP Morgan Chase, Charles Schwab and BlackRock. BNY Mellon also plans to host digital assets.