Fidelity Adds Ethereum Index Fund
F
idelity Investments has announced the launch of a new Ethereum Index Fund that will provide investors access to ether (ETH), the second-largest cryptocurrency by market capitalization.
Since the fund's sales started in late September, it has gathered roughly $5 million in capital. According to a regulatory filing with the United States Securities and Exchange Commission, the organization has raised about $5 million since sales began on September 26th. The minimal investment is $50,000.
Fidelity's crypto-focused institutional custody and trading platform, Fidelity Digital Assets, launched in 2018. The firm offers two exchange-traded crypto funds focused on the metaverse and digital payments respectively.
As we understand, the Fidelity Ethereum Index Fund is only available to qualified investors and will follow the performance of the Fidelity Ethereum Index PR benchmark through passive, direct ownership of ether.
Chris
An editor at CoincropChris is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely assembling lego models.
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