:Asset management giant Fidelity is close to submitting its filing for a spot bitcoin exchange-traded fund , the Block reported on Tuesday citing a source familiar with the matter.
BlackRock's application had sparked a surge in the price of bitcoin to a 1-year high. On Tuesday, it was up 2.2 per cent.A spot bitcoin ETF is a publicly-traded investment vehicle that tracks the price of bitcoin and offers investors exposure to the asset class. On the other hand, futures-based bitcoin ETFs track the price of bitcoin futures contracts and have been viewed more favorably by the SEC.
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