Asset management giant Fidelity is preparing to roll out a new fund dedicated to Bitcoin (BTC), according to public documents released by the U.S. Securities and Exchange Commission (SEC).
Peter Jubber, Fidelity’s head of strategy and planning, filed the paperwork with the regulatory agency on Wednesday. The SEC filing also names Jubber as the executive officer and director of the new fund called Wise Origin Bitcoin Index Fund I, LP.
The newly incorporated fund is run by Fidelity’s Boston, Massachusetts offices where the firm manages $8.3 trillion worth of customer funds.
The fund does not have any participants yet, but will be geared towards institutional investors. The minimum amount needed to join the pooled investment fund is $100,000.
A Fidelity study conducted between November 2019 and early March 2020 shows that 36% of institutional investors in the United States and Europe already have digital asset holdings, and 60% think that digital assets have a place in their portfolio.
The survey also shows that the flagship cryptocurrency remains the digital asset of choice among institutional investors. More than a quarter of the 800 respondents hold Bitcoin, while only 11% have exposure to Ethereum (ETH), the second largest crypto asset by market cap.
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