Hassan Maishera
TL;DR
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Bitcoin has maintained its price above $30k in the last 24 hours as investors continue to accumulate.
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Asset management firm Fidelity is reportedly set to file for a spot Bitcoin ETF.
Fidelity To File For A Spot Bitcoin ETF
Bitcoin, the world’s leading cryptocurrency by market cap, has maintained its value above the $30k level for the third-consecutive day this week.
This latest development comes amidst reports that Fidelity, one of the leading asset management firms in the world, with more than $4 trillion in assets under management, is set to file for a spot Bitcoin exchange-traded fund (ETF).
JUST IN: $4.2 trillion asset manager Fidelity to file for spot #Bitcoin ETF.
— Watcher.Guru (@WatcherGuru) June 27, 2023
If Fidelity eventually files for a spot Bitcoin ETF, it would become the second-largest asset management firm to do so after BlackRock filed for a Bitcoin ETF earlier this month.
The news temporarily pushed Bitcoin close to the $31k level on Tuesday, but the leading cryptocurrency has now retraced and is currently trading just above the $30,400 mark.
With Bitcoin still trading above $30k, the total cryptocurrency market cap remains close to the $1.2 trillion mark.
Bitcoin Cash has continued its rally, adding more than 5% to its value in the last 24 hours, reaching a yearly high of $230 per coin. Bitcoin Cash is the best performer amongst the top 20 cryptocurrencies by market cap and recently overtook Avalanche and Shiba Inu to clinch the 17th spot in the market.
