Fidelity Wise Origin (FBTC) vs Paxos Gold (PAXG)

Fidelity Wise Origin (FBTC) (ETF and fund) and Paxos Gold (PAXG) (tokenized-gold) serve different corners of the Bitcoin ecosystem, but the question that matters most is the same: who controls the keys? Both platforms earned a B rating in our scoring methodology, landing at 76/100. The tie breaks down in the category details.

Where Each Platform Wins

On custody and security, these two are within 2 points of each other (78 vs. 80). When custody scores are this close, look at the specifics: key management model, insurance coverage, and whether either platform has a single point of failure. Fidelity Wise Origin (FBTC)'s strongest advantage is in ease of use (85 vs. 75), where Fidelity Wise Origin (FBTC)'s user experience and onboarding flow makes a measurable difference. Paxos Gold (PAXG) stands out on transparency (85 vs. 70), reflecting Paxos Gold (PAXG)'s approach to proof-of-reserves and public documentation.

The Custody Question

Neither Fidelity Wise Origin (FBTC) nor Paxos Gold (PAXG) has fully eliminated single-point-of-failure risk. Fidelity Wise Origin (FBTC) uses ETF — Fidelity Self-Custody and Paxos Gold (PAXG) uses Brink's Vaults + NY DFS Regulated. Both models leave your bitcoin exposed to custodial concentration risk — if that one entity fails, your bitcoin could be locked, seized, or lost. For long-term holders, this is the most important factor to weigh.

Bottom Line

These two platforms score identically at 76/100. Your choice comes down to what you prioritize. Fidelity Wise Origin (FBTC) excels at fidelity self-custodies btc. trusted brand. integrated with brokerage accounts., while Paxos Gold (PAXG) is known for each paxg token backed by one troy ounce of london good delivery gold in brink's vaults. ny dfs regulated. monthly attestations. unique: individual bar serial number lookup per token holder.. Review the category breakdowns above and consider which trade-offs matter most for how you plan to hold bitcoin.