Fidelity International Launches Physical Bitcoin ETP on London Stock Exchange – Could It Push BTC Price to $75,000?

• Fidelity International’s Bitcoin ETP listing on the London Stock Exchange signals increasing institutional adoption and accessibility of Bitcoin.
• Rapid inflows into Fidelity’s Bitcoin ETF, despite recent price dips, indicate strong market interest that could propel BTC towards $75,000.

Having been initiated in 2023, when a Fidelity Executive referred to Bitcoin as ‘Exponential Gold’, the bullish case for BTC was painted, as reported by CNF. In today’s Binance News, it was highlighted that Fidelity International has successfully listed a physical Bitcoin Exchange-Traded Product (ETP) on the London Stock Exchange.

Collin Brown announced that Fidelity International has launched a physical Bitcoin ETP on the London Stock Exchange. This development is expected to expand investor access and underscores the growing mainstream acceptance of digital assets.

Big news! Fidelity International has launched a physical Bitcoin ETP on the London Stock Exchange. This move is set to broaden investor access and reflect the growing mainstream acceptance of digital assets. #Bitcoin #Crypto #ETP #Investing pic.twitter.com/mt2dX00c5z

— Collin Brown (@CollinBrownXRP) July 31, 2024

Furthermore, the listing of the physical Bitcoin Exchange-Traded Product (ETP) on the London Stock Exchange marks a major milestone for the financial services company as it broadens its cryptocurrency offerings. The listing on such a prominent exchange is expected to attract a wider range of investors, making Bitcoin more accessible.

Fidelity International’s move to introduce this product aligns with the growing interest and acceptance of digital assets within traditional financial markets.

The ETP offers investors direct exposure to Bitcoin without requiring them to hold the cryptocurrency themselves, providing a convenient and regulated investment option. This development is part of a larger trend of increasing institutional involvement in the cryptocurrency space, signaling the continued maturation and mainstream acceptance of digital currencies.

In addition, as discussed in our recent coverage, the London Stock Exchange (LSE) is set to accept applications for Bitcoin and Ethereum Exchange Traded Notes (ETNs) in Q2 2024. This initiative represents a significant endorsement of cryptocurrency by a leading global financial institution.

Could the listing push BTC price to $75,000?

As per a recent CNF update, Fidelity’s Bitcoin ETF sees rapid growth with $600 million in recent inflows, outpacing BlackRock. At the time, Bitcoin’s market price rallied past $71,000 as ETF inflows continued, signaling potential for new highs.

However, at the time of writing, according to CoinMarketCap data, BTC is valued at $63,977.32 with a decrease of 3.15% in the past day and 0.27% in the past week. This would require more support in driving BTC price to $75,000. See BTC price chart below.