Fidelity, one of the companies that applied for a spot Bitcoin ETF, provided some updates regarding its spot Bitcoin ETF, Wise Origin Bitcoin Trust, for which it filed an application with the SEC late yesterday.
In its updates, Fidelity stated how it would protect the Bitcoin in its customers' escrow accounts and explain the risks associated with Bitcoin.
Evaluating Fidelity's latest application, Bloomberg Intelligence ETF analyst James Seyffart stated in his post on his X account that he sees this situation as positive for spot Bitcoin ETF approval and said:
“Fidelity's latest move provides further evidence that potential spot Bitcoin ETF issuers are in communication with the SEC about the changes needed for the SEC to consider approval. These are, in my opinion, positive signs for approval.”
While Bloomberg ETF analyst Seyffart evaluates Fidelity's latest move as positive, FxPro senior market analyst Alex Kuptsikevich predicts that BTC will reach $ 29,400 in the coming days, citing increasing volumes in Bitcoin.
Speaking to Coindesk at this point, FxPro senior market analyst Alex Kuptsikevich said:
“We continue to see high trading volumes persist in Bitcoin.
Considering that the Bitcoin price is not high by historical standards, we view the high trading volumes as good news for BTC.
This indicates an influx of new buyers rather than an active exit from the market.
Buyers' interest centers around Bitcoin. Because current positions are concentrated near $ 28,500, which indicates a bullish trend.
Taken together, Bitcoin could quickly move to the $29,400 level.”
*This is not investment advice.
