Fidelity's Bitcoin and Ethereum Funds Get a Regulatory Tune-Up
Published Date: 2/25/2025
Notice
Summary
Cboe BZX Exchange wants to update the rules for the Fidelity Wise Origin Bitcoin Fund and the Fidelity Ethereum Fund. These changes could affect investors by tweaking how these crypto funds operate and trade, aiming to keep things smooth and clear. The SEC is now asking for public feedback before making it official, so watch for updates soon!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Bitcoin Trust: Allow In‑Kind Creations/Redemptions
The filing would let the Fidelity Wise Origin Bitcoin Fund accept or deliver bitcoin (in‑kind) as well as cash when creations or redemptions occur. Creations/redemptions would be done in blocks of 25,000 Shares and valued daily as of 4:00 p.m. Eastern Time. The SEC published the notice February 25, 2025 and is taking comments through March 18, 2025.
Ethereum Fund: Allow In‑Kind Creations/Redemptions
The filing would let the Fidelity Ethereum Fund accept or deliver ether (in‑kind) as well as cash when creations or redemptions occur. Creations/redemptions would be done in blocks of 25,000 Shares and valued daily as of 4:00 p.m. Eastern Time. The SEC published the notice February 25, 2025 and is taking comments through March 18, 2025.
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