Bitcoin ETFs Gain Momentum: BlackRock and Fidelity Lead the Way

Investment manager Cathie Wood and her firm Ark Invest view the recent filings for bitcoin exchange-traded funds (ETFs) by BlackRock, Invesco, and WisdomTree as a positive sign for the long-term outlook of the digital asset. Ark believes that BlackRock's application may have an easier path to approval due to a surveillance-sharing agreement with Nasdaq, which increases transparency and prevents market manipulation. HSBC Bank has also launched bitcoin and ethereum futures ETFs, offering cryptocurrency exposure to its customers in Hong Kong. Bitcoin's price has rallied in response to these developments, reaching its highest level since May.