Fidelity's Spot Bitcoin ETF — The Only Major ETF Using Self-Custody
The Wise Origin Bitcoin Fund (FBTC) is a spot Bitcoin ETF issued by Fidelity Investments, one of the world's largest financial services firms managing over $4.5 trillion in assets. FBTC provides investors with direct exposure to Bitcoin's price through a traditional brokerage account, with the unique advantage of Fidelity's proprietary self-custody infrastructure.
FBTC is the only major spot Bitcoin ETF that uses self-custody. While most Bitcoin ETFs rely on Coinbase Custody as their custodian, Fidelity stores FBTC's Bitcoin through its subsidiary Fidelity Digital Assets. This vertically integrated approach means Fidelity controls the entire custody stack, reducing counterparty risk and giving the fund operational independence from third-party custodians. Fidelity Digital Assets has been custodying Bitcoin for institutional clients since 2018.
FBTC holds approximately 213,000 BTC with around $21.5 billion in assets under management, making it the second largest spot Bitcoin ETF by AUM. The fund has attracted approximately $11 billion in cumulative net inflows since launch, demonstrating strong demand from both institutional and retail investors who value Fidelity's brand and custody model.
Fidelity has been involved in Bitcoin and digital assets since 2014, when it began mining Bitcoin as a research project. The firm launched Fidelity Digital Assets in 2018 to provide institutional-grade custody and trading services. This deep experience in digital assets gives FBTC a unique credibility among traditional finance investors exploring Bitcoin exposure.
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