According to a Wednesday regulatory filing, Fidelity Investments’ first bitcoin fund has managed to raise $102 million from wealthy investors since it was launched in August 2020.
The Wise Origin Bitcoin Index Fund I, LP is managed by chief strategist Peter Jubber. It is a passively-managed vehicle that Fidelity sells to qualified investors via its Fidelity Digital Funds subsidiary.
83 investors got in the fun (everyone with a minimum of $50,000) and together raised $102,350,437, as the SEC filings prove.
This makes Fidelity’s offering one of the largest of its kind. The only other companies to report over $100 million in sales for a bitcoin-only fund are Pantera, Galaxy, and NYDIG.
NYDIG recently started to offer access to Morgan Stanley clients. In fact, Morgan Stanley’s standalone bitcoin fund (in collaboration with NYDIG) managed $29.4 million in its first two weeks alone.
This type of fund is open only for accredited investors.
Fidelity has decided to release a more broadly available Bitcoin ETF as part of the Wise Origin brand. The SEC, of course, hasn’t approved it yet, as it hasn’t approved any other bitcoin ETF so far. But the time is near …
Source: CoinDesk.com