BTC Trades Above $30.5K; Fidelity Plans Spot ETF
By Laxmikant Khanvilkar
Virtual digital assets (VDAs) market place is brimming with prospect of many financial giants planning to tap space with the differentiated products. Latest one to do so, and the lot of buzz about the same is, Fidelity – the asset management company.
According to media reports the asset management colossus is in the advanced stages of preparing a filing for a spot Bitcoin ETF.
Fidelity joins BlackRock, Invesco and WisdomTree who have evinced interest into the burgeoning field to launch such a product.
The rush to offer ETF is a clear reflection of growing confidence in the long-term prospects of the digital asset.
The talks of Fidelity entering the space has sent Bitcoin (BTC) towards $31,000 briefly. More recently, the largest cryptocurrency by market capitalisation was quoting at $30,630, up 0.97%. Ethereum (ETH), the second largest cryptocurrency, changed hands at $1,875 level, gaining 0.82% over the last 24-hours.
Growing investor confidence saw the global crypto market cap add 0.57% over the last 24-hours to $1.18 tn amid 6.32% fall in total crypto market volume at $35.95 bn. The total volume in DeFi is currently $2.25 bn, while that of all stablecoins is $33.04 bn, representing 6.25% and 91.92% respectively, of the total crypto market 24-hour volume. Bitcoin’s dominance stands unchanged at 50.14%.
IC15 index, the barometer of top fifteen tokens, edged up 0.37% to 40,276.
It may be recalled that Fidelity-backed EDX Markets, a crypto exchange aimed at large financial institutions, opened for business one week ago in the U.S. Elsewhere, the U.S. stock futures were trading lower during, after posting gains during regular hours, led by surging tech companies as Meta, NVIDIA and Microsoft.
Dow Jones Futures were flat while , S&P 500 Futures and Nasdaq 100 Futures fell 0.2% and 0.3% respectively.
Investors will be looking towards goods trade balance and preliminary wholesale inventories data, as well as a speech from Fed Chair Powell.
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