Fidelity Files For First Bitcoin Fund

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  • Fidelity Investments is set to launch its first Bitcoin fund a year after its digital asset arm started trading
  • The Wise Origin Bitcoin Index Fund will have a minimum investment of $100,000
  • The move shows how well the Fidelity Digital Assets offering has gone down since opening its doors last June

Fidelity Investments has taken its interest in Bitcoin one step further and announced that it will launch its first Bitcoin fund just over a year after Fidelity Digital Assets opened its doors. According to Bloomberg, the Wise Origin Bitcoin Index Fund I, LP fund will be available to qualified purchasers through family offices, registered investment advisers, and other institutions, while Fidelity Digital Assets will custody the fund. The move reinforces Fidelity’s commitment to digital assets, adhering to the vision of its pro-blockchain CEO Abigail Johnson.

Fidelity Wants to Make Bitcoin More Accessible

Fidelity filed a notice of intent with the Securities and Exchange Commission yesterday, although a spokesperson declined to comment on it, simply stating that, “Fidelity has made a long-term commitment to the future of blockchain technology and to making digitally-native assets, such as Bitcoin, more accessible to investors.”

The minimum investment in the new Bitcoin fund is $100,000, which illustrates the level at which Fidelity is targeting this offering.

New Fund is Reflective of Institutional Interest

The move shows that Fidelity, which has over $2.46 trillion AUM, is happy to take its Bitcoin offering mainstream following its digital offering launching last June. The fact that the new fund is being offered by Fidelity’s main investment body rather than through the digital arm highlights the seriousness with which the asset is now being taken.

A number of financial institutions and high profile figures from the financial world have come out in support of Bitcoin in recent months, and the promotion of Bitcoin to a core Fidelity offering is representative of this increase in interest in the cryptocurrency sector.