Fidelity Investments is launching a Spot Bitcoin ETF in Canada, as the U.S. based firm is not waiting around for the Securities Exchange Commission to approve a decision in the United States. Fidelity's ETF is called the Fidelity Advantage Bitcoin ETF (FBTC), and it will directly obtain physical Bitcoin (BTC-USD). Meaning the fund will buy actual Bitcoin rather than acquire it through a derivative instrument. Fidelity's move just adds more fuel to the fire as one of America's largest asset managers with over $4T AUM is forced to create a product in Canada to meet their client's demands. At the same time, regulators in its own country still weigh their options on whether or not to approve a Spot Bitcoin ETF. The new fund will also be actively managed. Bitcoin price action: -1.4% on Tuesday and +98.1% year-to-date. Canada is not the only country that has approved a Spot Bitcoin exchange traded fund.
are necessary for technical reasons. Without them, this website may not function properly.
are necessary for specific functionality on the website. Without them, some features may be disabled.
allow us to analyse website use and to improve the visitor's experience.
allow us to personalise your experience and to send you relevant content and offers, on this website and other websites.