Fidelity president Tom Jessop led other company executives in meeting with the SEC to push for the approval of its Bitcoin exchange-trade fund, according to Markets Insider.
Fidelity executives argued that the crypto industry is now big enough to warrant regulatory support.
The executives cited growing investor demand for digital assets in a virtual meeting held with the SEC on September 8.
Fidelity says other countries such as Canada, Germany, Sweden, and Switzerland have approved similar products, despite the SEC delaying a similar move.
The SEC is already considering a pipeline of at least 20 applications by different companies for a crypto ETF.
SEC Chief Gary Gensler has hinted at approving Bitcoin ETFs as long they have the strictest rules that offer investor protection. He is also seen to consider approving a futures-based ETF.
Fidelity submitted a filing to launch a Bitcoin ETF in March. The ETF would debut on Cboe Global Markets once approved. BTCUSD is up +2.08%, ETHUSD is up +1.25%