Fidelity intends to fund its next "Fidelity Ethereum Fund" with $4.7 million, indicating a strong belief in cryptocurrency.
Matt Horne, the head of digital asset strategies at Fidelity Investments, stated the potential benefits of BTC as a hedge against inflation.
Fidelity maintains a positive short-term outlook for Bitcoin, citing the absence of extreme indicators seen during bull market peaks.
Fidelity will stake a portion of the ETF's assets through trusted staking providers, though the specific provider was not disclosed.
It has only been a month since the spot Bitcoin offerings were approved by the United States Securities and Exchange Commission (SEC).
The spot Bitcoin ETFs from the BlackRock and Fidelity have secured more than $3 billion in assets in the first 17 trading days.
The spot Bitcoin ETF by BlackRock has soared to remarkable heights, recording over $3.19 billion in inflows as of February 5th.
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