Fidelity Says It Has Sold $102,000,000 in Bitcoin to Wealthy Investors
Financial giant Fidelity just hit a new milestone, attracting more than $100 million to its fund for the world’s leading cryptocurrency.
Since opening in August of 2020, the Wise Origin Bitcoin Index Fund has pooled exactly $102,350,437, according to a recent filing with the U.S. Securities and Exchange Commission (SEC).
The report also shows that since its first sale on August 31st of last year, a total of 83 clients have invested in the fund.
The Bitcoin fund can be accessed through Fidelity’s Digital Funds division. In order to invest, investors need to contribute a minimum of $50,000.
Fidelity’s $100-million index fund is one of the largest of its kind. Competing Bitcoin index funds managing more than $100 million include Galaxy, NYDIG and Pantera.
Currently, the fund is only open to qualified and accredited investors.
Although the SEC has rejected every recent Bitcoin exchange-traded fund (ETF) proposal, the agency is currently reviewing Fidelity’s Bitcoin ETF alongside eight others that have been filed in the past year.
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Author: Daily Hodl Staff