Fidelity Bitcoin Fund Attracts $102M in First 9 Months

New SEC filings show the investment giant’s Wise Origin Bitcoin Index Fund is one of the largest of its kind.

AccessTimeIconMay 26, 2021 at 8:03 p.m. UTC
Updated May 9, 2023 at 3:19 a.m. UTC
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Fidelity Investments’ first bitcoin fund has raised $102 million from wealthy investors since launching in August, according to Wednesday regulatory filings.

Managed by Chief Strategist Peter Jubber, the Wise Origin Bitcoin Index Fund I, LP, is a passively-managed vehicle that Fidelity sells to qualified investors through its Fidelity Digital Funds subsidiary. Some 83 investors pooled their bets (at a minimum of $50,000 each) for a total raise of $102,350,437, the Securities and Exchange Commission (SEC) filings show.

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  • That’s enough to make Fidelity’s offering one of largest of its kind. Only Pantera, Galaxy and NYDIG, which recently began providing access to Morgan Stanley clients, have reported more than $100 million in sales for a bitcoin-only fund.

    Morgan Stanley’s standalone bitcoin fund, offered in partnership with NYDIG, managed $29.4 million in its first two weeks, as CoinDesk first reported in April.

    Such funds are only open to accredited investors. Fidelity has moved to launch a more broadly available bitcoin exchange-traded fund (ETF) – also under the “Wise Origin” brand. The SEC has yet to approve a bitcoin ETF, swatting down dozens of proposals in recent years.

    Fidelity did not immediately respond to CoinDesk’s request for comment.

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