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The Fidelity Wise (LON:WISEa) Origin Bitcoin Fund (Cboe BZX:FBTC) reported Wednesday that it has amended its trust agreement to permit the creation and redemption of fund shares in kind. According to a statement based on a recent SEC filing, the amendment was entered into on Monday by FD Funds Management LLC, the fund’s sponsor, and CSC Delaware Trust Company, the trustee.
The Third Amended and Restated Trust Agreement allows the fund to facilitate in-kind transactions, meaning shares can be created or redeemed using bitcoin rather than cash. The filing notes that the fund will not begin accepting orders for the creation or redemption of shares in kind until all necessary regulatory approvals have been obtained.
The Fidelity Wise Origin Bitcoin Fund is registered in Delaware and its shares are listed on the Cboe BZX Exchange under the ticker symbol FBTC. The fund’s principal executive offices are located in Boston, Massachusetts.
This information is based on a press release statement included in the fund’s SEC Form 8-K filing.
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