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Fidelity’s Ethereum Index Fund Raises $5 Million In Sales

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.

Fidelity's Ethereum Index Fund Raises $5 Million In Sales 3

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.

Fidelity's Ethereum Index Fund Raises $5 Million In Sales 4

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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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.