Fidelity prodded SEC to approve Bitcoin ETF in private meeting

The firm pushed the agency, citing increased investor interest and a growing number of bitcoin holders.

Fidelity Investments privately prodded the U.S. Securities and Exchange Commission (SEC) last week to approve its bitcoin exchange-traded fund (ETF), according to recent filings.

The multinational, financial services giant urged the regulator to approve its fund by citing increased investor interest in crypto. Fidelity also pointed to the rising number of investors holding bitcoin and similar funds worldwide. Bloomberg first reported the news Tuesday.

Fidelity Digital Assets President Tom Jessop, among other executives from the firm, met with SEC officials via a Sept. 8 video call.

Fidelity had not responded to a CoinDesk request for comment by the time of publication.

Bitcoin ETFs in the U.S. have had a notoriously hard time winning SEC approval of their applications. Presently, there are over 10 applications pending, including those by VanEck, WisdomTree, and more recently, Anthony Scarammuci’s SkyBridge.

The firm originally filed its Wise Origin Bitcoin Trust in March with a follow-up response in June. Last week marked the second round of talks between the SEC and Fidelity, and like all others, the application is pending.

Purpose Investments became the first in North America to be approved for a bitcoin ETF when Canadian regulators gave their go-ahead in February.