25 Jul 2025
🔄Proposed Rule Change for Fidelity Bitcoin and Ethereum Funds
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 Fidelity Wise Origin Bitcoin Fund and the Fidelity Ethereum Fund To Permit In-Kind Creations and Redemptions
Summary
The SEC notice details a proposed rule change allowing in-kind trades for the Fidelity Wise Origin Bitcoin Fund and Ethereum Fund. This change is aimed at enhancing the funds' operational efficiency by enabling authorized participants to create and redeem shares using either cash or bitcoin/ether, thereby improving the overall market dynamics and investor experience.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The regulatory notice outlines a proposed rule change allowing in-kind creations and redemptions for the Fidelity Wise Origin Bitcoin and Ethereum Funds, which could enhance operational efficiency for businesses involved in cryptocurrency transactions and trading. This directly affects compliance and operational requirements for firms interacting with these funds.