Fidelity attracts $5 million for Ethereum Index Fund

Since September 26, Fidelity Investments’ Ethereum Index Fund, launched by the investment giant Fidelity Investments, has attracted $5 million. CoinDesk reports.

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According to the SEC filing, the minimum investment in the vehicle is $50,000. The instrument is available to accredited investors.

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According to the publication’s sources, the fund tracks the Fidelity Ethereum Index PR, buying Ethereum directly, the second-largest cryptocurrency by market capitalisation. It became the second after the Wise Origin Bitcoin Index Fund, launched in 2020.

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“As the cryptocurrency market grows, Fidelity recognises the need for a diverse range of products and solutions. […] We still see client demand for access to digital assets beyond Bitcoin,” according to company representatives.

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At present the company offers various crypto-ETFs and institutional-grade crypto custody and trading services.

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Earlier reports in September indicated Fidelity Investments to offer Bitcoin trading to retail clients of its brokerage arm.

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Earlier, in collaboration with Charles Schwab and Citadel, the company announced the launch of the cryptocurrency exchange EDX Markets.

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