Fidelity reportedly launching spot Bitcoin ETF in Canada

Fidelity Investments is reportedly launching a new ETF in Canada that will trade on the Toronto Stock Exchange called FMR Bitcoin Strategy ETF. The company has been looking into bringing this product to market for quite some time now, and it appears they are finally ready to start trading soon. This is big news considering zero funds have yet to launch an official cryptocurrency offering in Canada.

The “fidelity bitcoin etf canada” is a company that reportedly plans to launch a spot Bitcoin ETF in Canada.


Bitcoin (BTC) investors have had a rough ride. While the Securities and Exchange Commission (SEC) in the United States considers whether or not to authorize a spot Bitcoin exchange-traded fund (ETF), Fidelity Investments, a US-based investment business, is apparently planning to establish a spot ETF in Canada, subject to regulatory permission. 

The fund “Fidelity Advantage Bitcoin ETF” is now seeking listing on a Canadian platform, according to a tweet by Bloomberg senior ETF analyst Erick Balchunas. Balchunas also said that if the new fund is successful, it would become the biggest asset management organization that provides Bitcoin services.

Fidelity is introducing a spot bitcoin ETF in Canada this week, which is a semi-shock. I had no idea about this. With a bitcoin ETF, it will easily be the largest asset manager to date.

30 November 2021 — Eric Balchunas (@EricBalchunas)

Fidelity’s plan to provide a spot ETF in Canada merely adds gasoline to the fire, as one of the world’s biggest asset managers, with over $4 trillion in assets under management, is obliged to establish a service in Canada to meet consumer demand.

Fidelity did not immediately react to a request for comment from Cointelegraph. 

As GBTC approaches $40 billion in assets under management, it may become an ETF by July.

Meanwhile, the SEC is currently debating whether or not to authorize a spot Bitcoin ETF, which many market analysts believe will be a huge success. 

According to Cointelegraph, Grayscale Investments has protested the US Securities and Exchange Commission’s recent rejection of VanEck’s spot Bitcoin ETF application. In a letter to SEC Secretary Vanessa Countryman, the operator of the Grayscale Bitcoin Trust (GBTC) says that the SEC is incorrect to reject spot Bitcoin ETFs since it has already approved three such products based on Bitcoin futures.

The SEC’s stance on cryptocurrency is reinforced by VanEck’s Bitcoin spot ETF shunt.

Bitcoin ETFs are not new to Canada. The FBTC’s debut might open the way for more spot ETFs in the Canadian market. This would be a major win for investors since it would enable them to have exposure to Bitcoin without having to purchase and store it themselves. 

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The “btcc etf” is an ETF that will be launched by Fidelity in Canada. It is expected to be the first of its kind.

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