Fidelity becomes latest firm to re-up bid for spot bitcoin ETF

The financial services giant renewed its effort after BlackRock revealed its intention to bring a similar offering on June 15


PL Gould/Shutterstock modified by Blockworks


Fidelity has re-entered the field of spot bitcoin ETF hopefuls. 

The financial services giant, which has about $11 trillion in assets under administration, filed on Thursday. The ETF was filed under the Wise Origin Bitcoin Trust name.

According to the filing, Fidelity Digital Assets Services will “be responsible for custody of the Trust’s bitcoin.”

Fidelity’s filing comes after BlackRock — an asset manager with roughly $9 trillion assets under management — revealed plans to launch a spot bitcoin ETF earlier this month. 

Read more: Is BlackRock’s clout enough to get its bitcoin ETF past the SEC?

That move by BlackRock spurred other fund firms that had previously tried to launch such a fund — including Bitwise, WisdomTree, Invesco, Valkyrie and VanEck — to re-up their own efforts. 

Ark Invest and 21Shares, which had re-filed for their spot bitcoin ETF in April, amended its proposal on Wednesday to include a surveillance-sharing agreement with an unnamed bitcoin spot trading platform.

Fidelity’s latest move does not come as a surprise, as many had predicted the firm would rejoin the spot bitcoin ETF launch effort after BlackRock got the industry’s attention.  

Loading Tweet..

But unlike BlackRock, Fidelity has tried to launch a spot bitcoin ETF before. 

The firm filed in 2021 for the Wise Origin Bitcoin Trust, a proposed ETF ultimately blocked by the SEC in January 2022. That denial came nearly two months after Fidelity successfully launched a spot bitcoin ETF in Canada.  

More broadly, Fidelity has been involved in the crypto space for years. 

It launched Fidelity Digital Assets in 2018 to offer crypto custody and trade execution services to institutional investors, such as hedge funds, family offices and market intermediaries.

The company launched its Crypto Industry and Digital Payments ETF (FDIG) and the Fidelity Metaverse ETF (FMET) in April 2022.

Updated June 29, 2023 at 1:54 pm ET: Added additional content throughout.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Screenshot 2024-05-23 091855.png


Bitcoin L2s aim to boost scalability while preserving decentralization and security, unlocking a better user experience, and new avenues for Bitcoin-powered innovations. However, no existing Bitcoin L2 leverages the full security of Bitcoin.



The convergence of AI and blockchain on Polkadot represents a groundbreaking opportunity for investors and developers alike


The company is making public a previously private offer rejected by Bitfarms’ board of directors last month


Semler Scientific, a publicly traded medical tech company, joined MicroStrategy by buying up millions of bitcoin


As someone who’s been knee-deep in the trenches of blockchain development, I can’t help but wonder if these behemoths are really cutting it anymore


UNI and MKR are suffering from the successes of their respective protocols


Maybe there’s no silver bullet to avoiding most tokens dumping after launch…