A new Ethereum Index Fund launched by Fidelity Investments provides its clients exposure to ETH, according to a document the firm filed with the SEC on Sept. 26.
The fund launched by the multi-trillion dollar asset manager is accepting minimum outside investments of $50,000 and showed just over $5,000,000 in reported sales, CoinDesk first reported.
News that Fidelity might soon provide crypto offerings to retail consumers spread across the wires earlier this month.
Fidelity helped establish routes to crypto markets in 2018 when it launched a bitcoin trading business aimed at institutional investors and hedge funds. In 2020, Fidelity launched a bitcoin index fund that, last May, surpassed $125 million in investments.
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About Author
Jeremy Nation is a Senior Reporter at The Block covering the greater blockchain ecosystem. Prior to joining The Block, Jeremy worked as a product content specialist at Bullish and Block.one. He also served as a reporter for ETHNews. Follow him on Twitter @ETH_Nation.
Source: https://www.theblock.co/post/174806/fidelity-reveals-ethereum-index-fund-with-5000000-in-sales-in-new-filing?utm_source=rss&utm_medium=rss