The Wise Origin Bitcoin Index Fund has bought $62.84 million worth of bitcoin according to a filing with the Securities and Exchanges Commission.
The fund launched recently with this being one of their first sale of securities to track bitcoin’s performance.
It “provides investors with exposure to the performance of bitcoin through a traditional limited partnership, private placement structure,” the fund said.
733 accredited investors, with a minimum of $50,000 each, raised the funds with Fidelity acting as a custodian.
The fund itself is managed from Fidelity’s Boston headquarters, with the paperwork filed by Chris Tyrer, Head of Fidelity Digital Asset Management.
This is the second purchase through exempt securities in the past week, with Cambrian buying $20 million worth of bitcoin and eth on Thursday.
That’s while both cryptos have been somewhat stable since June, raising the prospect that some institutional investors are beginning to start considering bitcoin once again.
Source: https://www.trustnodes.com/2022/09/27/fidelitys-wise-origin-buys-60-million-bitcoin