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.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-10373 — Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222 — Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-11810 — Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGX Exchange just rolled out a new Clock Service that helps users sync their time systems perfectly with the Exchange. Starting May 18, 2026, they’re charging fees for this service but also offering a free trial to get everyone on board. This affects both members and non-members who want precise timing for their trading activities.
2026-11812 — Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGA Exchange just rolled out a new Clock Service to help traders sync their time systems perfectly. Starting May 18, 2026, users can try it for free, but after that, there will be fees for using this handy tool. This change affects anyone who wants precise timing for trading and keeps things running smoothly.
2026-11809 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe BZX Exchange just rolled out a new Clock Service that helps users sync their time systems with the Exchange’s for better accuracy. Starting May 18, 2026, they’re charging fees for this service but offering a free trial to get everyone started. This affects both members and non-members who want precise timing for their trading activities.
Previous / Next Documents
Previous: 2025-03030 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Amend the 21Shares Core Ethereum ETF, Shares of Which Have Been Approved by the Commission To List and Trade on the Exchange Pursuant to BZX Rule 14.11(e)(4)
The Cboe BZX Exchange wants to update the 21Shares Core Ethereum ETF so it can earn extra rewards by staking the Ether it holds. This change affects investors in the ETF and could boost returns without extra costs. The proposal was filed in February 2025 and is now open for public comments before any final decision.
Next: 2025-03032 — Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing of Proposed Rule Change To List and Trade Shares of the CoinShares XRP ETF Under Nasdaq Rule 5711(d)
Nasdaq wants to start trading shares of the CoinShares XRP ETF, a fund tied to the cryptocurrency XRP, under a special rule for commodity-based trusts. This means investors can buy and sell these shares on Nasdaq soon, giving them a new way to invest in XRP without owning the crypto directly. The SEC is now asking for public comments before giving the green light, so keep an eye out for updates!