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The bitcoin exchange rate exceeded $31,000 after the news about Fidelity’s ETF.

The cost of the first cryptocurrency began to grow after the announcement that the investment company Fidelity, in turn, filed an application with the US Securities and Exchange Commission (SEC) to register a spot bitcoin ETF. On Thursday, the Chicago Board Options Exchange (Cboe) announced a 19b-4 filing for the Fidelity Spot Bitcoin ETF on its website. That is, information about the plans of Fidelity, which manages the assets of 42 million customers in the amount of more than $11 trillion, appeared in the media two days ago, but has now been confirmed by an official application. The ETF is called the Wise Origin Bitcoin Trust, promoted by FD Funds Management LLC, and Fidelity Digital Asset Services will be responsible for holding the bitcoins held in the fund. Before it, such applications were submitted by BlackRock, WisdomTree, Invesco and Bitwise, to which the bitcoin rate also reacted with growth. This is the second attempt by Fidelity to create such a product. In 2021, she applied to create an ETF under the Wise Origin Bitcoin Trust brand, but the US Securities and Exchange Commission (SEC) rejected the application in early 2022.

Like BlackRock’s bid, Fidelity’s bid also includes Cboe’s co-custody agreement with the US bitcoin spot trading platform. The move is seen as a breakthrough in the U.S. Bitcoin spot ETF listing, as the SEC has rejected dozens of such filings. BlackRock’s representation differs substantially from this SSA provision. If approved, BlackRock will share custody with Coinbase.

It should be said that the crypto market has recently been quite excited about the emergence of the Bitcoin Spot ETF. Investors can freely participate in the cryptocurrency market without worrying about regulatory procedures anymore. This is especially encouraging when this product is guaranteed by the size and influence of US financial empires.

On the night of June 30, the bitcoin rate rose to $31.2 thousand at the moment. According to CoinGecko, at 15:00 Hong Kong time, bitcoin is trading at about $30.7 thousand. Over the day, BTC has risen in price by 1.8%, over the week – by 2.17%. Leading altcoins also rose in price. The price of Ethereum in 24 hours rose by 2%, to $1.87 thousand, Polygon (MATIC) – by 4.74%, to $0.65, Cardano (ADA) coin increased in price by 4.06%, to $0, 28. The XRP (XRP) rate rose by 1.82% to $0.47, Solana (SOL) – by 15.7% to $18.6. The fear and greed index rose from 54 to 56 points out of 100. The indicator is in the “greed” zone, which indicates an increased interest of market participants in buying cryptocurrencies. Against the background of the growth of cryptocurrency rates during the day, more than 43 thousand positions of traders were liquidated on crypto-exchanges, the total amount of liquidations amounted to $132.32 million. Cash (BCH), positions in it were liquidated for $16.7 million.

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