According to recent filings, Fidelity Investments privately lobbied the Securities and Exchange Commission (SEC) last week to approve its bitcoin exchange-traded fund (ETF).
The multinational financial services conglomerate requested that the regulator approve its fund, citing increased investor interest in cryptocurrency. Fidelity also mentioned the growing number of investors holding bitcoin and similar funds around the world.
Fidelity Digital Assets President Tom Jessop, along with other firm executives, met with SEC officials via video call on September 8.
In the United States, Bitcoin ETFs have had a notoriously difficult time obtaining SEC approval for their applications. Currently, over ten applications are pending, including those from VanEck, WisdomTree, and, most recently, Anthony Scarammuci’s SkyBridge.
When Canadian regulators approved Purpose Investments for a bitcoin ETF in February, it became the first in North America.