Fidelity Joins Race for US Bitcoin ETF
THESTREET CRYPTO, 25 March 2021
Fidelity has made an application with the U.S. securities regulator to offer a Bitcoin exchange-traded fund (ETF), according to public filings. The Block was the first to report on the application.
The asset management firm lodged paperwork for the Wise Origin Bitcoin Trust, which would track the price of Bitcoin using data from predominantly U.S.-based exchanges: Coinbase, Gemini, ItBit, Kraken and Bitstamp.
“An increasingly wide range of investors seeking access to Bitcoin has underscored the need for a more diversified set of products offering exposure to digital assets,” a Fidelity spokesperson told Bloomberg.
Fidelity is perhaps the highest profile name to apply for a Bitcoin ETF this year. Five other contenders are vying to become the first U.S. Bitcoin ETF, including VanEck, First Advisors/Skybridge and NYDIG. Continue reading “Article: Fidelity Joins Race for US Bitcoin ETF”
FD Funds Management Backed by Fidelity Files for Bitcoin ETF with SEC
Steve Muchoki, 25 March 2021
Fidelity Investments, an American multinational financial services corporation based in Boston, Massachusetts, through its subsidiary FD Funds Management has filed for a Bitcoin ETF with the United States Securities and Exchange Commission. According to Form S-1 filed by Fidelity Investments, the ETF will be called Wise Origin Bitcoin Trust, if the SEC approves it.
Notably, the United States Securities and Exchange Commission has rejected two other applications for a Bitcoin ETF. According to the commission, Bitcoin is a very volatile asset that may put investors’ capital at risk.
However, with already two Bitcoin ETFs approved in the Canadian market, there are high chances the United States will move towards considering a similar move. Furthermore, more institutional investors are showing the will to hold digital assets as a hedge against the deflationary fiat currencies. Continue reading “Article: FD Funds Management Backed by Fidelity Files for Bitcoin ETF with SEC”
Russian national confesses to biggest bank hack in US history
DAN GOODIN, 24 September 2019
A Russian national has admitted to carrying out the largest-known computer hack on a US bank. His 2014 breach of JPMorgan Chase generated hundreds of millions of dollars in illicit revenue and stole the data of more than 80 million JPMorgan clients.
Andrei Tyurin, 35, whose last name is also spelled Tiurin, also pleaded guilty to hacks against other US financial institutions, brokerage firms, and other companies. In all, he pleaded guilty in federal court to computer intrusion, wire fraud, bank fraud, and illegal online gambling as part of a securities-fraud scheme carried out by co-conspirators. Continue reading “Article: Russian national confesses to biggest bank hack in US history”