Called Wise Origin Bitcoin Trust, FD Funds Management LLC is the sponsor of the Trust. Fidelity Digital Assets Services will be responsible for custody of the trust’s bitcoin, according to the filing.
"By using professional custodians and other service providers, the Trust provides investors interested in exposure to bitcoin with important protections that are not always available to investors that invest directly in bitcoin, including protection against insolvency of non-qualified custodians, cyberattacks, and other risks," the filing reads.
"If U.S. investors had access to vehicles such as the Trust for their bitcoin investments, instead of directing their bitcoin investments into loosely regulated offshore platforms , then countless investors couldFidelity bitcoin ETF"I can confirm that CBOE-BZX Exchange filed with the SEC a proposed new listing rule for Fidelity’s bitcoin ETP, the Wise Origin Bitcoin Trust, today," a Fidelity spokesperson said in an emailed response to questions.
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