Is Fidelity Getting into Crypto by Launching a Bitcoin Spot ETF?
Financial behemoth BlackRock has reportedly filed for a Bitcoin ETF application confirmed by the filing documentation with the SEC. However, shortly after the news, another major financial player is entering the markets namely Fidelity.
At present, rumors are circulating within the global crypto community about Fidelity filing for a Bitcoin ETF. Max Keiser who identifies as a Bitcoin maximalist has commented that the commercial interest in Bitcoin makes the flagship currency as the ultimate winner.
Another key figure to reflect on the rumors is Ripple Attorney, John Deaton who claims that Fidelity and BlackRock tout an AUM of $4.5 trillion and $11 trillion respectively. He maintained that even if a small percentage of the total market evaluation from both firms runs into Bitcoin, it can skyrocket the price of the flagship cryptocurrency.
Meanwhile, podcaster Scott Melker believes that Wall Street is hopping onto the crypto bandwagon while SEC effectively clearing their way by tossing out the competition.
Mastercard’s Entry in Crypto Gaming
Mastercard put its cryptocurrency plans on the back burner citing the prolonged crypto winters. However, the digital payments giant seems to be once again warming up toward the crypto sector.
Recently, Mastercard filed for a trademark application to cover a new crypto gaming project. Trademark attorney for Mastercard Michael Kondoudis has told media that the trademark intends to cover crypto software, blockchain-based transactions, and link generation between virtual asset entities.
Mastercard partnered with Bybit Exchange to issue a debit card in March this year. The debit card was powered by Moorwand which is FCA-approved electronic money and payments services provider.
The holders of the debit card can exchange fiat and cryptocurrencies, make purchases, and ATM withdrawals. Mastercard has also hinted at working in tandem with various cryptocurrency exchange platforms such as Gemini, Nexo, and Binance among others.
Dorian Vincileoni is an executive at KuCoin. He recently talked with the media at the Proof of Talk conference in Paris. He maintained that the current bear market started in 2022 following a historic bull run.
Vicileoni serves as head of European business development at KuCoin. He told the media during an interview that when bear markets are in progress, crypto entities have a chance to listen to the concerns and reservations of their active consumers.
He maintained that under the current circumstances, a crypto exchange should not dwell on negative news. In his opinion, the crypto enterprises that step up their development during this phase will reap greater during favorable market conditions.
He also highlighted the results of a market survey conducted by KuCoin Exchange. The survey revealed increasing interest from the consumers regarding implementation of AI for upgrading network security.
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