Fidelity Investments is a top-three US spot crypto ETF issuer through its FMR subsidiary. Founded in 1946 and headquartered in Boston, Fidelity manages more than $5 trillion in firm-wide AUM and offers three regulated crypto ETFs: the Wise Origin Bitcoin Fund (FBTC), the Wise Origin Ethereum Fund (FETH) and the Fidelity Solana Fund (FSOL).
FBTC launched on Cboe BZX in January 2024 alongside other US spot Bitcoin ETFs. Unlike most peers, Fidelity self-custodies the underlying BTC through Fidelity Digital Assets, its in-house qualified custodian, rather than relying on Coinbase. The fund has a 0.25% expense ratio and is one of the most-traded spot Bitcoin ETFs by daily volume.
FETH launched in July 2024 as part of the second wave of US spot crypto ETFs. Like FBTC, it uses Fidelity Digital Assets for self-custody and currently does not stake. FETH consistently ranks in the top three for ETH-class AUM and daily flows.
Fidelity's main edge versus BlackRock and Grayscale is in-house custody — investors who care about custodial risk concentration favor FBTC and FETH for that reason. On expense ratio Fidelity matches BlackRock at 0.25%, and on liquidity FBTC routinely tops the volume leaderboard alongside IBIT.
Fidelity offers two US spot crypto ETFs: FBTC (Wise Origin Bitcoin Fund) and FETH (Wise Origin Ethereum Fund). Both are issued by Fidelity Investments via its FMR subsidiary and trade on Cboe BZX.
Yes. Both funds use Fidelity Digital Assets, an in-house qualified custodian, rather than a third-party custodian. This is a notable structural difference from most US spot crypto ETFs that use Coinbase Custody.
FBTC's expense ratio is 0.25%, in line with BlackRock's IBIT and most other major US spot Bitcoin ETFs.
FBTC and IBIT have the same headline expense ratio (0.25%) and similar liquidity. The main differences are custodian (Fidelity Digital Assets vs Coinbase Custody) and exchange (Cboe BZX vs Nasdaq). For investors with existing Fidelity brokerage accounts, FBTC may carry preferential trading economics.
No. FETH does not stake its underlying ETH. The ETF wrapper trades off staking yield for the operational and regulatory simplicity of a standard ETF structure.