Fidelity Investments has selected Jane Street and Cumberland DRW to buy and sell Bitcoin for its Bitcoin exchange-traded fund, if and when the ETF is approved by regulators.
The Boston-based asset management firm has entered into agreements with companies to act as counterparties for third-party bitcoin trading, according to a filing with the U.S. Securities and Exchange Commission on Monday. This arrangement differs from that of other Bitcoin ETF applicants, such as BlackRock Inc. and Franklin Templeton, both of whom chose Coinbase Global Inc. To trade and save Bitcoin. Fidelity uses Fidelity Digital Asset Services as a bitcoin custodian for its ETF.
