Fidelity joins the crush to launch a Bitcoin ETF

Another big Wall Street firm on Thursday joined the crusade to bring a spot bitcoin fund to market.

The big picture: Fidelity Investments is the most recent financial juggernaut to join the parade recently kicked off by BlackRock.

• It refiled its application for a spot bitcoin ETF that resembles the world's largest asset manager's, in that it has the same, supposed winning, feature: an explicit surveillance sharing agreement.

What they're saying: "A meaningful portion of our customers are interested in and own digital assets," a spokesperson for Fidelity tells Axios in an emailed statement, explaining its application.

Catch up fast: It joins an ever growing list of ETF hopefuls that includes Cathie Wood's Ark Invest, WisdomTree, Valkyrie, and Invesco.

Details: Fidelity's is called Wise Origin Bitcoin Trust.

Of note: "The Exchange is expecting to enter into a surveillance sharing agreement with an operator of a United States-based spot trading platform for Bitcoin," the filing reads.

• The exchange is CBOE and the spot trading platform, many speculate, will likely be likely Coinbase.

Yes, but: The answer may still be a resounding "no," given that the Securities and Exchange Commission has denied many a request since it first rejected an application from Cameron and Tyler Winklevoss roughly 10 years ago.

The bottom line: We'd be surprised if any spot bitcoin ETFs were approved under this administration.