Fidelity’s Ethereum Index Fund Raises $5 Million In Sales
According to a document filed with the SEC on September 26, Fidelity Investments’ new Ethereum Index Fund offers its investors exposure to ETH.
The fund formed by the multibillion-dollar asset management accepts minimum outside contributions of $50,000 and has announced sales of little more than $5 million.
The company said last month that it was contemplating introducing crypto trading to its retail brokerage clients.
Fidelity Digital Assets, crypto-focused institutional custody and trading platform, was established in 2018. The company provides two exchange-traded crypto funds, one for the metaverse and one for digital payments.
The Fidelity Ethereum Index Fund will track the performance of the Fidelity Ethereum Index PR benchmark through passive, direct ownership of Ether and is only available to accredited investors.
The new Ethereum fund is the second to be formed by the digital asset management division, following the Wise Origin Bitcoin Index Fund I in 2020.
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