Fidelity Bitcoin Fund Files S-1/A, Nears ETF Launch

TL;DR

**Fidelity's Bitcoin ETF is one step closer to launching, making crypto investing easier for everyone.**

AI Summary

Fidelity Wise Origin Bitcoin Fund filed an S-1/A on January 8, 2024, which is Pre-Effective Amendment No. 4 to its original S-1 registration statement. This filing updates the registration for a proposed sale of securities to the public, indicating the fund is moving closer to launching its Bitcoin ETF. This matters to investors because it signals progress towards a more accessible way to invest in Bitcoin through a regulated financial product, potentially increasing demand and price stability for Bitcoin, and offering a new investment vehicle for those considering exposure to the cryptocurrency.

Why It Matters

This filing indicates Fidelity's Bitcoin ETF is progressing towards launch, offering investors a regulated and potentially more secure way to gain exposure to Bitcoin without directly holding the cryptocurrency.

Risk Assessment

Risk Level: medium — While a regulated ETF reduces some risks, Bitcoin itself remains a volatile asset, and the fund's performance will directly correlate with Bitcoin's price fluctuations.

Analyst Insight

Investors considering exposure to Bitcoin should monitor the final approval and launch date of this ETF, as it could provide a regulated and potentially more convenient investment vehicle compared to direct cryptocurrency purchases.

Key Numbers

• 333-254652 — Registration Number (Identifies the specific registration statement for the Fidelity Wise Origin Bitcoin Fund.)
• 86-6606379 — IRS Employer Identification Number (Unique tax identifier for the Fidelity Wise Origin Bitcoin Fund.)

Key Players & Entities

• Fidelity Wise Origin Bitcoin Fund (company) — the registrant filing the S-1/A
• January 8, 2024 (date) — date the S-1/A was filed with the SEC
• 333-254652 (dollar_amount) — Registration No. for the S-1
• FD Funds Management LLC (company) — manager of the fund
• Rachel Nelson (person) — contact person for the registrant

Forward-Looking Statements

• The Fidelity Wise Origin Bitcoin Fund will launch its ETF within the next few months. (Fidelity Wise Origin Bitcoin Fund) — high confidence, target: 2024-06-30
• Increased institutional interest in Bitcoin will follow the launch of this ETF. (Bitcoin) — medium confidence, target: 2025-01-01

FAQ

From the Filing

0001193125-24-003839.txt : 20240208 0001193125-24-003839.hdr.sgml : 20240208 20240108064031 ACCESSION NUMBER: 0001193125-24-003839 CONFORMED SUBMISSION TYPE: S-1/A PUBLIC DOCUMENT COUNT: 14 FILED AS OF DATE: 20240108 DATE AS OF CHANGE: 20240110 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Fidelity Wise Origin Bitcoin Fund CENTRAL INDEX KEY: 0001852317 STANDARD INDUSTRIAL CLASSIFICATION: [6221] ORGANIZATION NAME: 09 Crypto Assets IRS NUMBER: 866606379 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: S-1/A SEC ACT: 1933 Act SEC FILE NUMBER: 333-254652 FILM NUMBER: 24518237 BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: (617)-392-2211 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: Wise Origin Bitcoin Trust DATE OF NAME CHANGE: 20210319 S-1/A 1 d375081ds1a.htm FORM S-1/A Form S-1/A Table of Contents As filed with the Securities and Exchange Commission on January 8, 2024 Registration No. 333-254652 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Pre-Effective Amendment No. 4 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 FIDELITY ® WISE ORIGIN ® BITCOIN FUND (Exact name of registrant as specified in its charter) Delaware 86-6606379 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) c/o FD Funds Management LLC Rachel Nelson 245 Summer Street V13E Boston, MA 02210 (800) 343-3548 (Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices) Copy to: Morrison C. Warren, Esq., Chapman and Cutler LLP 320 South Canal Street Chicago, IL 60606 (312) 845-3484 Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this Registration Statement. If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box: ☒ If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering: ☐ If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐ If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐ The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effect