Fidelity ETFs to Trade Bitcoin Like Actual Gold Bars
Published Date: 7/25/2025
Notice
Summary
The Cboe BZX Exchange wants to update the rules for trading the Fidelity Wise Origin Bitcoin Fund and Fidelity Ethereum Fund. They’re allowing investors to create and redeem shares by exchanging the actual cryptocurrencies instead of cash, which can make trading smoother and cheaper. This change could start soon and might save money for folks investing in these funds.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Bitcoin Fund: Allow In‑Kind Creations/Redemptions
The Fidelity Wise Origin Bitcoin Fund would be allowed to create and redeem shares by accepting or delivering bitcoin (in-kind) in addition to cash. Creations and redemptions occur in blocks of 25,000 Shares (a Creation Basket), the amount of bitcoin per Creation Basket is determined as of 4:00 p.m. Eastern time on the purchase order date, and purchase orders must be placed by the close of Regular Trading Hours or another time set by the Sponsor.
Ethereum Fund: Allow In‑Kind Creations/Redemptions
The Fidelity Ethereum Fund would be allowed to create and redeem shares by accepting or delivering ether (in-kind) in addition to cash. Creations and redemptions occur in blocks of 25,000 Shares (a Creation Basket), the amount of ether per Creation Basket is determined as of 4:00 p.m. Eastern time on the purchase order date, and purchase orders must be placed by the close of Regular Trading Hours or another time set by the Sponsor.
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Previous / Next Documents
Previous: 2025-14030 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a Proposed Rule Change, as Modified by Amendment No. 3, To Amend the Rule Governing the Listing and Trading of the ARK 21Shares Bitcoin ETF and the 21Shares Core Ethereum ETF To Permit In-Kind Creations and Redemptions
Cboe BZX Exchange wants to update the rules for two popular crypto ETFs—the ARK 21Shares Bitcoin ETF and the 21Shares Core Ethereum ETF—so investors can trade shares by swapping actual crypto assets instead of just cash. This change makes trading smoother and could save money on fees. The SEC is reviewing the proposal now, and if approved, it’ll kick in soon, helping crypto fans and traders alike.
Next: 2025-14032 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a Proposed Rule Change, as Modified by Amendment No. 1, To Amend the Rule Governing the Listing and Trading of the VanEck Bitcoin ETF and the VanEck Ethereum ETF To Permit In-Kind Creations and Redemptions
The Cboe BZX Exchange wants to change the rules for the VanEck Bitcoin and Ethereum ETFs so investors can swap actual crypto assets instead of just cash when buying or selling shares. This move could make trading smoother and possibly save money for folks investing in these ETFs. The SEC is reviewing the change now, with decisions and comments happening through mid-2025.