Which company this actually is
This entry is not about Fidelity Investments. The subject is a distinct chartered entity: Fidelity Digital Asset Services, LLC, now Fidelity Digital Assets, National Association. It is wholly owned by FMR LLC of Boston, the ultimate parent of the Fidelity group, and nothing about the parent's size belongs in a description of it. What the subsidiary has is a charter, a balance sheet of its own and a supervisor.
In its own words, filed with the Securities and Exchange Commission in January 2021, it was then "a New York state limited liability trust company that provides custody and trade execution services for digital assets". That charter came from the New York State Department of Financial Services, which announced on 19 November 2019 that it had authorised the company to operate as a limited liability trust company running "a virtual currency custody and execution platform, on which institutional investors and individuals can securely store, purchase, sell, and transfer Bitcoin".
The charter changed in 2025
On 12 December 2025 the Office of the Comptroller of the Currency granted conditional approval to convert the New York trust company into an uninsured national trust bank named Fidelity Digital Assets, National Association, and to relocate its operations to Boston through a temporary bank and a merger. The approval letter lists the services the resulting bank plans to carry over: a digital asset custodial account, transfers, a custodial cash account, trade execution, services for individual retirement accounts, settlement, collateral agency and reporting. The same letter records an intention to issue a stablecoin and to provide staking, both on a non-fiduciary basis, which is not Bitcoin work and is not described further here.
What it holds
The clearest public measure of the custody business is the exchange-traded product it serves. The Fidelity Wise Origin Bitcoin Fund began operations on 11 January 2024. Its sponsor is FD Funds Management LLC, another FMR subsidiary, and its bitcoin is held by this custodian in cold storage under an express custodial relationship. The fund's annual report states that it held 201,684 bitcoin at 31 December 2025, up from 201,556 a year earlier, and that its net assets were $17.6 billion at 31 December 2025 against $18.8 billion at 31 December 2024.
Those coins belong to the trust, not to the custodian, and a shareholder holds a share in the trust rather than a key. The custodial agreement treats the bitcoin credited to the trust as financial assets under Article 8 of the New York Uniform Commercial Code. The fund's own risk factors say plainly that the insolvency or receivership of the custodian could still mean loss or delay.
No founded year is given here, because the company's own announcement of its launch could
not be opened: fidelity.com and fidelitydigitalassets.com both refuse automated requests.
For the same reason no mark ships with this entry, and a monogram is drawn instead.