Fidelity’s spot bitcoin ETF is set to start trading in Canada, while its US fund is still waiting for the SEC’s green light

Fidelity’s spot bitcoin ETF is set to start trading in Canada, while its US fund is still waiting for the SEC’s green light

Fidelity Investments is about to launch an exchange traded fund (ETF) backed by bitcoin, rather than bitcoin futures, but it's listing the fund in Canada, as US regulators have still not given these particular crypto products the go-ahead. An affiliate of the Boston-based asset manager, Fidelity Investments Canada told Insider it would launch the Fidelity Advantage Bitcoin ETF and ETF Fund "on or around December 2" under the ticker FBTC, according to its . The ETF's bitcoin sub-custodian, Fidelity Clearing Canada. will acquire and hold bitcoin and investors will be able to buy and sell it on the Toronto Stock Exchange. ETFs backed by physically settled bitcoin are available in Europe, as well as Canada, where regulators those funds in February this year. In August, French let asset manager Melanion Capital list a spot bitcoin ETF of its own. "We believe that cryptocurrency is a valid asset class that we would like to provide as an investment option for retail investors in Canada by including this in our product offering," a spokesperson from Fidelity Investments Canada told Insider. US investors only have access to bitcoin-futures ETFs for now. Fidelity to list a spot bitcoin ETF in the US back in