A document filed by Fidelity Investments with the Securities and Exchange Commission on Sept. 26 states the firm has launched an Ethereum Index Fund that will provide exposure to Ether (ETH). A minimum of $50,000 in outside investments is required to invest in the new fund, and so far more than $5 million has been reported in sales.
Using the Fidelity Ethereum Index PR benchmark, the Fidelity Ethereum Index Fund will track the performance of Ethereum investments. Accredited investors are the only ones who can access it. ETH will be owned passively directly by the fund, according to an inside source. After the Wise Origin Bitcoin Index Fund I, introduced in 2020, this new Ethereum fund is the second one from Fidelity Digital Assets’ digital asset management business.
As the marketplace for digital assets grows, Fidelity recognizes the need for a diverse set of products and solutions that help customers gain exposure in a manner that aligns with their distinct financial objectives and risk tolerance. We have continued to see client demand for exposure to digital assets beyond bitcoin.
Fidelity spokesperson
In collaboration with Charles Schwab, Citadel Securities, and several other investors, Fidelity also recently launched a crypto exchange. The new crypto exchange platform, dubbed EDX Markets, will allow users to trade cryptocurrencies in a more secure, faster, and more efficient manner than ever before. The Fidelity cryptocurrency exchange platform will make use of technology that has been developed by the Members Exchange (MEMX), a stock exchange.
The intention of the industry consortium is to build market infrastructure that contributes to increased optionality for liquidity to facilitate a more efficient, secure and cost-effective process for trading digital assets.
Fidelity spokesperson
