Fidelity Enters the Bitcoin ETF Race

Fidelity is hoping to launch the Wise Origin Bitcoin Trust, which will allow investors to gain exposure to the digital asset without actually holding the currency themselves.

article-image

Abigail Johnson, Chairman and CEO, Fidelity Investments; Source: Fidelity

share

key takeaways

  • Fidelity filed for the Wise Origin Bitcoin Trust Wednesday
  • The filing in the latest in a series of attempts to get a bitcoin ETF approved

Asset manager giant Fidelity joined a slew of other firms vying for US Securities and Exchange Commission approval for a bitcoin exchange-traded fund Wednesday. 

Fidelity is hoping to launch the Wise Origin Bitcoin Trust, which will allow investors to gain exposure to the digital asset without actually holding the currency themselves, according to forms filed with the SEC Wednesday. The physical assets would be custodied by Fidelity Digital Assets, a branch of the firm founded in 2018, if the ETF is approved. 

The trust will track the performance of bitcoin, which will be measured by the Fidelity Bitcoin Index PR. Coin Metrics will be the calculation agent for the index.

“The digital assets ecosystem has grown significantly in recent years, creating an even more robust marketplace for investors and accelerating demand among institutions,” Fidelity said in an emailed statement. “An increasingly wide range of investors seeking access to bitcoin has underscored the need for a more diversified set of products offering exposure to digital assets.”

The SEC has never approved a digital asset ETF, but not for lack of options. Fidelity joins Goldman Sachs, SkyBridge Capital, NYDIG and VanEck, among others, in trying to launch a product geared toward retail investors who want exposure to digital assets without the risks associated with buying directly on an exchange. 

Last week Christine Sandler, head of sales and marketing at Fidelity’s digital assets subsidiary, spoke to Blockworks about the “tremendous” retail demand for cryptocurrency.

“We’d love to get more product in the hands of retail clients, even if [FDAS] cannot serve them at this time by offering them access to spot bitcoin,” she said. “We would love to have more people, more individuals, more families, more 401Ks exposed to digital assets and bitcoin is a really great way to start. And if folks need an ETF to kind of begin that journey, that’s great.”

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Featured.png

Research

Helium stands at a pivotal moment in its evolution as a decentralized wireless network, balancing rapid growth, economic restructuring, and global expansion. With accelerated growth in domestic DAUs and Hotspots supporting its network, Helium is leveraging strategic partnerships and innovative proposals to scale internationally. The recent implementation of HIP 138, “Return to HNT,” has unified its token economy under HNT, simplifying participation and strengthening liquidity, while HIP 139’s phase-out of CBRS refocuses efforts on scalable Wi-Fi offload. Meanwhile, governance shifts under HIP 141 raise questions about centralization as Nova Labs consolidates control over the roadmap.

article-image

In 2011, WikiLeaks faced a financial blockade imposed by the US government. It was Bitcoin’s first major test.

article-image

Kado’s founder Emery Andrew spoke to Blockworks about the acquisition and what’s next for the team

article-image

LayerZero’s Bryan Pellegrino chatted with Blockworks about the firm’s next steps and its 10-year runway

article-image

Colosseum co-founder Matty Taylor is seeing “high-performance [Solana] founders showing a lot of interest in private trading technology”

article-image

Executives weigh the growth potential they see in the public stock and private credit/equities arenas

article-image

Players can stake ME, trade tokens and link wallets to climb the leaderboard