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Crypto Index Fund Fidelity. According to a recent sec filing, fidelity investments, one of the world’s largest financial companies, is seeking approval from the us securities and exchange commission to launch a bitcoin etf. Demand surges for biggest crypto fund amid arbitrage play.
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It is the first cryptocurrency index fund available to investors through traditional brokerages such as schwab and fidelity, according to the company. Fidelity’s move comes at a time when the price of bitcoin, the world’s largest cryptocurrency, has recouped much. Lennard neo, head of research at stack funds — a crypto index fund provider — told cointelegraph:
Institutional demand for bitcoin in decline
Fidelity was one of the earliest mainstream firms to support cryptocurrencies, dabbling in the crypto world as far back as 2014. The fund has a minimum investment of $100,000 and is intended for qualified purchasers who meet stringent criteria. Its effort follows wisdomtree, valkyrie digital assets. Three of the largest asset managers are diversifying their funds to hold blockchain stocks, throwing more.
