FIDELITY BITCOIN ETF APPROVAL IMMINENT (Eruptions Market Report 12-8-23)

This listing on the DTCC website strongly indicates that Fidelity is nearing approval from the U.S. Securities and Exchange Commission (SEC). The SEC has reviewed spot Bitcoin ETF applications for several years but has yet to approve any. 

The approval of a spot Bitcoin ETF would open the market to institutional investors, who have traditionally been hesitant to invest in cryptocurrencies. The anticipation for a spot Bitcoin ETF approval has been driving up the price of BTC. 

Read the full Eruptions Market Report here