Fidelity, one of the biggest and best-known asset managers on the globe has more than $8 trillion in customer funds. With this in mind, a writer for Forbes, Michael del Castillo recently broke news that the company had registered a new fund dedicated to bitcoin.
The President of Fidelity and a director of digital friends, Peter Jubber files paperwork this week with United States securities and exchange commission informing them of a new fund completely dedicated to the leading Cryptocurrency.
Even though the documentation was revealed publicly, it doesn’t reveal a lot about the new fund. But we do know that minimum investment to join the pool investment is $100,000. This is a big sign that this is mainly for accredited investors and institutional investors.
But many people are speculating on what fidelity will actually use this fund for. The company has recently released results of a survey of 800 institutional investors from the United States and Europe. It found that around 36% of respondents were already invested in cryptocurrency, whether it was a bitcoin or another alternative coin. And 60% said that digital assets like Cryptocurrency have a place in their portfolio.
This is a very exciting development for the company and the overall crypto space.