Fidelity Joins the Bitcoin ETF Party

Happy Thursday, Blockfolians

The Lede

Yep, that’s right. Fidelity has become the 6th firm to offer up an application for a Bitcoin ETF. At this point, we sort of agree with this take:

In all seriousness though, there are good reasons to think that the SEC will finally allow a Bitcoin ETF soon:

  • The new Chair Gary Gensler is more pro-crypto, having taught a course on Bitcoin and Blockchain at MIT

  • Canada now has multiple approved ETFs

  • The market has matured significantly since the last round of proposals

For now, I guess we just wait and see.

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Highly Relevant Reading

  • Caitlin Long’s Avanti raises another $37m

  • Binance adds two former FATF members to advisory team

  • Chinese banks are now allowing people to apply for access to the digital yuan

  • Dalio still chirping about the US government banning bitcoin


Community Commentary

There is an awful lot of long faces out there for an asset that has been over $50,000 for nearly three weeks
Tell us again that bitcoin doesn’t have any use case besides speculation?

A Really Big Number We Should Be Paying Attention To

$560,000

That’s the final price of an NFT auction in conjunction with the New York Times. Subscriptions what?


Final Thought

Good summary of today’s hearings around big tech