Fidelity Wise Origin Bitcoin Fund (FBTC) USD Price

Fidelity Wise Origin Bitcoin Fund is a spot Bitcoin exchange-traded fund offered by Fidelity Investments, one of the largest asset managers in the world. The U.S. Securities and Exchange Commission approved the ETF, along with 10 others, on January 11, 2024. Fidelity's spot bitcoin ETF has a sponsor fee of 0.25%, which it lowered from its original planned fee of 0.39%. The fee is being waived until the end of July. The Bitcoin in the Fidelity Wise Origin Bitcoin Fund are custodied in house through Fidelity Digital Asset Services, LLC.

Fidelity Investments, commonly known as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts. Established in 1946, Fidelity has a longstanding history as one of the largest asset managers in the world. The company offers a wide range of financial services, including investment management, retirement planning, brokerage, and wealth management.

In recent years, Fidelity has expanded its operations into the digital asset industry, recognizing the growing significance of cryptocurrencies and blockchain technology. This expansion is primarily facilitated through its subsidiary, Fidelity Digital Assets, which was launched in 2018. Fidelity Digital Assets provides institutional-grade services for the custody and trade execution of digital assets, catering to a variety of professional investors, including hedge funds, family offices, and financial advisors.

Fidelity's involvement in the digital asset ecosystem is characterized by its focus on security, regulatory compliance, and technological innovation. The company has developed a robust custody solution that leverages its long-standing expertise in asset safekeeping, adapted to meet the unique challenges of digital currencies. This includes secure, cold storage solutions and the use of advanced security protocols to protect digital assets from unauthorized access.

Additionally, Fidelity plays a role in promoting the integration of digital assets into the broader financial system. It engages with regulatory bodies and industry groups to advocate for clear and sound regulatory frameworks that support the growth and maturation of the digital asset market. Fidelity also conducts research and provides educational resources to help institutional investors better understand the implications and opportunities presented by blockchain technology and cryptocurrencies.

By entering the digital asset space, Fidelity aims to bridge the gap between traditional finance and emerging digital asset markets, providing institutional investors with the infrastructure and services necessary to safely and efficiently manage their cryptocurrency investments. Through its established reputation and expertise, Fidelity seeks to contribute to the development of a more secure and accessible digital asset ecosystem.