One of the world’s largest and most diversified asset managers Fidelity is reportedly close to joining the likes of BlackRock, Valkyrie, and Invesco for spot Bitcoin ETF application, a source with knowledge of the matter told The Block on Tuesday.

The new filing will be the second attempt by Fidelity to file for a spot Bitcoin ETF after being denied by the US financial regulators (Securities and Exchange Commission) last year.

As of press time, Fidelity is yet to comment on the report.

This news comes after several asset managers, including WisdomTree, Invesco, BlackRock, and Bitwise, applied for a spot Bitcoin ETF.

Fidelity boasts of managing assets worth $4.2 trillion. And the possibility of these asset managers offering a spot Bitcoin ETF is likely to attract institutional investors to the crypto industry.