Fidelity officially files for spot bitcoin ETF in second attempt

Financial services giant Fidelity Investments has refiled paperwork Thursday for its proposed spot bitcoin ( BTC-USD ) exchange-traded fund dubbed Wise Origin Bitcoin Trust. The move comes after BlackRock ( BLK ), the world's largest asset manager, filed an application for a spot BTC ETF earlier in June, sparking a race among institutional players seeking to be first to market such a product. Bitcoin ( BTC-USD ) rose 1.3% to $30.5K at 1:55 p.m. ET, after briefly trailing the $30K support level in the prior session. Fidelity, which has been involved in the crypto space since 2018, in 2021 attempted to roll out the product, but was denied by the U.S. Securities and Exchange Commission early last year. The Block reported Tuesday that Fidelity was preparing to submit an application for the spot BTC ETF. More on Fidelity and Bitcoin: Bitcoin's Dubious Rally Fidelity more bullish on crypto as digital assets arm plans to boost headcount