According to Form D documentation submitted to the United States Securities and Exchange Commission (SEC) on August 26, Fidelity Investments' Head of Fidelity Consulting Peter Jubber has filed for a new US-based Bitcoin index fund.
The fund has been titled the “Wise Origin Bitcoin Index Fund I” and requires a minimum investment of $100,000
The fund, the first of its kind from Fidelity, will be offered through a distinct Fidelity division called Fidelity Digital Funds
Filed under the Rule 506(b) exemption, the fund can receive unlimited investment from accredited investors but is not permitted to be advertised
Fidelity has declined to disclosed the issuer size
Institutional investment has grown exponentially in the past 2 years; Grayscale reported over $1 billion in investments in the first 6 months of 2020