Cboe filing shows plans for Fidelity spot bitcoin ETF

The Block
The Block

29 Jun 2023 5:46 PM

A pending 19b-4 filing posted by Cboe on its website Thursday shows plans for a Fidelity spot bitcoin ETF. ...

  • Cboe plans to launch a Fidelity spot bitcoin ETF called Wise Origin Bitcoin Trust.
  • FD Funds Management LLC is the sponsor of the Trust, while Fidelity Digital Assets Services will handle custody of the trust's bitcoin.
  • The Trust aims to provide investors with important protections not available when investing directly in bitcoin.
  • The filing suggests that if U.S. investors had access to vehicles like the Trust, they could have protected their principal investments in bitcoin.
  • Fidelity has submitted a proposed new listing rule for the Wise Origin Bitcoin Trust to the SEC.
  • The SEC has yet to approve a spot fund.

The sentiment of the article is generally positive, highlighting the potential benefits and protections offered by the Wise Origin Bitcoin Trust.

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You May Ask

What is the name of the proposed Fidelity spot bitcoin ETF?Who is the sponsor of the Wise Origin Bitcoin Trust?Which company will be responsible for custody of the trust's bitcoin?What protections does the Trust provide to investors?Has the SEC approved a spot fund yet?

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