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Fidelity Wise Origin Bitcoin Fund
Fidelity Investments, the Boston-based financial services giant that oversees over $4.5 trillion in total client assets (per Fidelity, 2024), introduced...
Fidelity Wise Origin Bitcoin Fund
Fidelity Investments, the Boston-based financial services giant that oversees over $4.5 trillion in total client assets (per Fidelity, 2024), introduced the Wise Origin Bitcoin Fund to meet institutional demand for Bitcoin exposure without the operational risks of direct custody. The fund's sponsor leverages Fidelity Digital Assets, the firm's dedicated digital asset arm launched in 2018. The fund invests directly in Bitcoin, acquired via major exchanges and held in cold storage custody. This structure bypasses derivative-based alternatives like the Bitcoin futures ETF. The minimum investment typically targets institutional investors, including family offices, pensions, and RIAs. The Wise Origin Bitcoin Fund operates alongside other Fidelity digital-asset products, which collectively made Fidelity the first major custodial bank to hold Bitcoin. Fidelity Digital Assets has also expanded custody services for Ethereum and launched a crypto trading desk for institutional clients. In 2023, the firm filed for a spot Bitcoin ETF, marking an operational escalation in its digital-asset strategy. Fidelity's structural differentiator is its combination of a trusted brand in traditional asset servicing with a long-term corporate commitment to digital assets. Unlike smaller crypto-native funds, Fidelity can provide institutional-grade reporting, tax documentation, and security protocols integrated with existing wealth management infrastructures.
General information
Firm type
other
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Boston
Corporate office
Boston, MA, United States
Principals
Fidelity Investments
Sponsor
Sector focus
Frequently asked questions
What structure does the Fidelity Wise Origin Bitcoin Fund use?
The fund is a physically backed Bitcoin investment vehicle. It holds actual Bitcoin, not futures contracts or derivatives, acquired from major exchanges and stored in cold storage custody (per Fidelity, 2021).
Who is the target investor for this fund?
The fund targets institutional investors, including family offices, pension funds, endowments, and registered investment advisors (RIAs). It has a minimum investment that typically excludes retail participants (per Fidelity marketing materials).
How does the fund handle custody and security?
Bitcoin is held in cold storage custody provided by Fidelity Digital Assets. Fidelity uses multi-signature wallets and geographically distributed storage to mitigate theft or loss risks (per Fidelity, 2020).
Is this fund registered with the SEC?
The fund is structured as a mutual fund and files with the SEC. It is distinct from Fidelity's spot Bitcoin ETF proposal, which remains under SEC review as of 2024 (per SEC filings).
Does the fund allow for redemptions?
Redemption terms are not publicly detailed, but as a fund intended for institutional use, periodic liquidity windows are typical (per industry standard). Investors should review the offering memorandum.
How does the fund's fee structure compare?
Fidelity has not publicly disclosed expense ratios for this fund. Comparable physically-backed Bitcoin funds in Canada charge fees around 0.4-1.0% annually (per fund provider data, 2023).
What is the tax treatment of the fund's gains?
As a regulated fund, investors receive annual tax documents reporting capital gains and income. The fund's structure as a grantor trust may pass through taxable gains to investors (per IRS guidance applicable to Bitcoin trusts).
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