Less than two weeks ago, we suggested the first US Bitcoin ETF was imminent. Todd Rosenbluth, director of ETF research for CFRA Research, told Bloomberg:
"The race to launch the first Bitcoin ETF is heating up. It's more of a question on when the SEC will approve a Bitcoin ETF, not if."
"First-mover advantage in the ETF space is tremendous, particularly when the underlying assets overlap. Whichever comes out of the gate first will have a leg up", he continued.
And today, with $4.9 trillion under management, Fidelity Investments has become by far the largest firm to file with the SEC to list a new Bitcoin exchange-traded fund (ETF).