Fidelity’s bitcoin index fund surpasses $125 million in investments
Almost two years on from its launch Fidelity Investments bitcoin index fund has seen a drop in the growth of in-bound investments year on year, regulatory filings show.
The Wise Origin Bitcoin Index Fund went public in August 2020, giving Boston-based Fidelity the ability to offer clients bitcoin exposure. Almost nine months later the fund had raised $102 million, according to SEC filings.
According to its latest SEC filing, made on Monday, the fund has now raised a total of $126.5 million as of May 23, signaling a tapering in overall growth compared to the earlier reporting period. While the fund’s size has grown modestly during its second year, the number of investors has increased from 83 to 689, according to the latest filing.
Fidelity recently announced that it will allow its clients to allocate part of their retirement savings to bitcoin. The asset manager, which looks after about $4.2 trillion in assets, revealed in April that it plans to allow investors to add a bitcoin account to their 401(k)s, once their employers approve.
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Author: Adam Morgan McCarthy
