Bitcoin ETFs: A Growing TradFi Craze

[Trung Duc]

Fidelity Investments is finalizing its application for a Bitcoin exchange-traded fund (ETF). The ETF will track the price of Bitcoin, providing a regulated way for investors to trade shares representing ownership in the cryptocurrency. This news follows other financial giants like BlackRock and Invesco submitting applications for Bitcoin ETFs. The launch of the first leveraged crypto ETF in the US, Volatility Shares' 2x Bitcoin Strategy ETF, has already seen significant trading volume. Circle's CEO expects Bitcoin ETFs to gain approval as the market matures, and the industry believes institutional adoption is crucial for future growth. Bitcoin's price has increased by approximately 85% this year, helping restore confidence after the market collapse in 2022.

[Lion Mane]

It's exciting to see Fidelity Investments jumping into the Bitcoin ETF space. This will provide more accessibility and convenience for investors interested in cryptocurrencies.