DON’T Miss Out: Fidelity’s 7th Applicant for Wise Origin BTC Trust Renewal.

Fidelity Renew Push for Spot Wise Origin BTC Trust

Fidelity Investments has renewed its push for its Spot Wise Origin BTC Trust, making it the seventh applicant for a Bitcoin ETF this year. The trust proposes to list and trade shares of the ETF on the Cboe BZX Exchange, Inc. and will be the first of its kind to offer investors exposure to the price of Bitcoin through a regulated and transparent exchange-traded product.

The trust is sponsored by Fidelity Digital Assets, a division of Fidelity Investments that provides enterprise-grade custody and trade execution services for digital assets. It is designed to provide investors with a secure, convenient, and cost-effective way to gain exposure to Bitcoin.

The trust is structured as a Delaware statutory trust and will hold Bitcoin as its primary asset. The trust will not engage in any activities other than the purchase and safekeeping of Bitcoin, the issuance of shares, and the distribution of Bitcoin in connection with the redemption of Baskets.

The trust will issue shares in Baskets of 25,000 Shares each, and each Basket will represent a fractional undivided beneficial interest in the trust’s net assets. The trust will not list Baskets on any national securities exchange.

Bitcoin ETF Applications

The SEC has received seven applications for a Bitcoin ETF this year, with Fidelity’s renewed push for its Spot Wise Origin BTC Trust being the latest.

The applications have come from a variety of companies, including Fidelity, VanEck, WisdomTree, Valkyrie Digital Assets, SkyBridge Capital, NYDIG, and Purpose Investments.

The SEC has yet to approve any of the applications, and it is unclear when or if any of them will be approved. However, the renewed push from Fidelity is a sign that the company is serious about getting its ETF approved.

If approved, the Spot Wise Origin BTC Trust would be the first Bitcoin ETF to be listed on a major U.S. exchange.

Fidelity’s Push for Spot Wise Origin BTC Trust

Fidelity Investments is pushing for its Spot Wise Origin BTC Trust to become the first Bitcoin ETF to be approved by the SEC. The trust would offer investors exposure to the price of Bitcoin without having to buy and store the cryptocurrency.

The trust has been in the works for several years, and Fidelity has been actively lobbying for its approval. If approved, the trust would be the first Bitcoin ETF to be listed on a major U.S. exchange, which could open the door for other cryptocurrency investments.

The SEC has yet to approve any Bitcoin ETFs, but Fidelity is hoping that its trust will be the first. The company has submitted its application to the SEC, and is now waiting for a decision.