A Bitcoin fund at Fidelity
Peter Jubber, President of Fidelity Consulting, the group’s consulting arm Fidelity Investments, has filed a report with the Securities and Exchange Commission (SEC) to alert the US regulator the creation of a new fund dedicated exclusively to Bitcoin.
Baptized ” Wise Origin Bitcoin Index Fund I, LP ”, The fund will be managed by a new business unit called Fidelity Digital Funds. It is designed for high net worth investors and requires a minimum investment of $ 100,000.
According to a Bloomberg source familiar with the project, the fund will be managed indirectly and offered to qualified investors through family offices, licensed investment advisers and other institutions.
The documentation provided by Jubber gives little details about the fund and reveals that no investor has yet signed up. However, it’s a safe bet that this project will be a great success.
Fidelity recently published the findings of a survey of 800 American and European institutional investors. The survey found that 36% of participants have already invested in digital assets, while 60% said digital assets have a place in their wealth.
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Fidelity resolutely seduced by cryptos
The asset manager, who manages nearly $ 8.3 billion in funds on behalf of its clients, is truly committed to valuing Bitcoin with them. In an email sent to Bloomberg, the company reportedly stated this:
“Fidelity has a long-term commitment to the future of blockchain technology and to making native digital assets, such as Bitcoin, more accessible to investors.”
Indeed, Fidelity has already proven several times that cryptocurrencies, and Bitcoin in particular, are, from its point of view, promising investments.
Last July, Cryptoast relayed information that the company had acquired just over 10% of Hut 8, a company specializing in Bitcoin mining.
Earlier, in November 2019, Fidelity even created a token to reward its most deserving employees.
Abigail Johnson, CEO of Fidelity, is one of the biggest figures on Wall Street promoting blockchain and crypto-money. In particular, it encouraged the launch, two years ago, of the ” Fidelity Digital Assets », A digital asset custody service for hedge funds, family offices and other financial institutions.
👉 Also read: Fidelity creates a token intended to reward its employees
This news echoes investors’ growing appetite for Bitcoin. We recently announced the arrival with great fanfare of the economic intelligence specialist, MicroStrategy, in the cryptosphere.
👉 To learn more, read MicroStrategy, a Nasdaq-listed company, buys $ 250M of bitcoin
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About the Author : Junie Maffock
Driven by curiosity, I discovered a passion for cryptocurrencies and Blockchain technology. The crypto enthusiast that I am likes to observe the crypto universe with attention.
All articles by Junie Maffock.