Cryptocurrencies
Fidelity Heads North — to Canada — With Bitcoin ETF as U.S. Fund Awaits SEC Approval
- The fund will allow for U.S. and Canadian dollar investments
- Fidelity met with the SEC about a Bitcoin ETF in September
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Fidelity Investments, one of the world’s largest asset managers, plans to join the spate of companies offering investors access to Bitcoin through a Canadian ETF with U.S. regulators balking at approval of the funds.
The Fidelity Advantage Bitcoin ETF will invest in Bitcoin directly or through derivative instruments, and customers will be able to make purchases in the fund with Canadian or U.S. dollars, according to a Nov. 22 filing. The exchange-traded fund, which would be listed on the Toronto Stock Exchange under the ticker FBTC, could be launched as soon as Thursday.