Fun

New SEC Filing Shows Fidelity Preparing to Launch Bitcoin Fund

News Feed - 2020-08-27 10:08:32

New SEC Filing Shows Fidelity Preparing to Launch Bitcoin Fund


The U.S. Securities and Exchange Commission (SEC) has published a new filing for a bitcoin fund, submitted by Fidelity Investments’ head of strategy and planning.Bitcoin Index Fund Filed With SEC


The SEC published Wednesday a Notice of Exempt Offering of Securities (Form D) filing for a new bitcoin fund. The issuer is Wise Origin Bitcoin Index Fund I, incorporated in Delaware this year. The minimum investment for this new bitcoin fund that will be accepted from any outside investor is $100,000. Fidelity Brokerage Services and Fidelity Distributors Company will receive sales compensation.


Peter Jubber, Head of Strategy and Planning at Fidelity Investments, is listed as “the President and a director of FD Funds GP LLC, the general partner of the issuer.” Jubber has also filed Form D with the SEC for two other funds of similar names that do not mention bitcoin: Wise Origin Fund I and Wise Origin Fund II. The former was filed in January and the latter in April.


A person familiar with the matter told Bloomberg on Wednesday that the fund will be a passively-managed, bitcoin-only fund available to qualified investors. Fidelity Digital Assets, the cryptocurrency arm of Fidelity Investments, will custody the fund. “Fidelity has made a long-term commitment to the future of blockchain technology and to making digitally-native assets, such as bitcoin, more accessible to investors,” the company said in a statement to the news outlet.




Wednesday’s filing seeks an exemption from registration requirements under Rule 506(B) of Regulation D for private placements. This rule allows companies to raise an unlimited amount of money and sell securities to an unlimited number of accredited investors, subject to some restrictions, such as not allowing general solicitation or advertising to the market.


Fidelity’s filing comes as bitcoin is gaining popularity among institutional investors. In June, Fidelity Digital Assets released the results of a survey it conducted on institutional interest and adoption of cryptocurrencies. “Almost 80% of institutional investors find something appealing about digital assets,” the firm found.


What do you think about Fidelity launching a bitcoin fund? Let us know in the comments section below."Bitcoin Will Never Ditch You" Ad Dominates Front Page of Major Hong Kong NewspaperNEWS | 7 hours agoCrypto Exchange FTX Buys Blockfolio for $150 Million in Effort To Expand Retail PresenceNEWS | 22 hours agoTags in this storyfidelity bitcoin etf, fidelity bitcoin fund, fidelity bitcoin index fund, fidelity crypto fund, fidelity cryptocurrency, fidelity investments bitcoin fund, fidelity sec bitcoin


Image Credits: Shutterstock, Pixabay, Wiki CommonsUse Bitcoin and Bitcoin Cash to play online casino games here.Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Read disclaimerShow comments

News Feed

Market Update: Bitcoin Price Hits New All-Time High Over $20k
Market Update: Bitcoin Price Hits New All-Time High Over $20k The price of bitcoin surpassed its all-time high touching $20,800 on Wednesday morning (EST). At th
SWIFT Is Experimenting With Decentralized Technologies to Allow CBDC Interconnection
SWIFT Is Experimenting With Decentralized Technologies to Allow CBDC Interconnection SWIFT, the interbank payments protocol and messaging system, has announced it is working to con
Turner Wright6 hours agoFormer SEC chair says spot Bitcoin ETF approval is ‘inevitable’ despite delaysThe commission has another 45 days to approve, deny or delay spot Bitcoin exchange-traded fund applications from s
Spot Ether ETFs will come down to a 5-person vote: Gensler the decider?
Brayden Lindrea4 hours agoSpot Ether ETFs will come down to a 5-person vote: Gensler the decider?It was speculated that Gensler’s vote secured the launch of spot Bitcoin ETFs in January — and the same five commission
Survey Shows Millennial Millionaires Plan to Buy More Crypto Next Year Despite Price Volatility
Survey Shows Millennial Millionaires Plan to Buy More Crypto Next Year Despite Price Volatility While the cryptocurrency economy has seen significant losses across the board ȁ
Trump won’t sell US BTC if elected, what about seized assets?
Tristan Greene6 hours agoTrump won’t sell US BTC if elected, what about seized assets?Questions abound concerning the Bitfinex and Silk Road funds if Trump is re-elected.4887 Total views4 Total sharesListen to article
Rakesh Upadhyay4 hours agoBitcoin price support at $30K opens the door for gains from UNI, ARB, AAVE and MKRBTC price is back in its range, potentially given opportunities for UNI, ARB, AAVE and MKR to move higher.1642 T
Ontario Regulator Lets Security Token Startup Test Secondary Trading
The Ontario Securities Commission (OSC) is allowing a tokenization startup to facilitate secondary-market trading of its tokens by giving the firm regulatory relief for a short time.
Tristan Greene5 hours agoResearchers develop crypto literacy scale to measure consumer financial awarenessThis could help raise cryptocurrency education, insulate consumers against scams and increase the potential for we
Tools of Humanity delays unlock of 80% of WDL tokens
Ana Paula Pereira8 hours agoTools of Humanity delays unlock of 80% of WDL tokensOriginally set to unlock over three years, the tokens will now become accessible for early contributors and investors over five years, begin
AI Identifies One Altcoin to 100x and Eclipse $XRP and $SOL; Wall Street Pepe Hits $50M
Este artículo también está disponible en español. Wall Street has recently found a good friend in AI. Market experts and participants have been using various AI models to
Europeans to See More Interest Rate Hikes, Central Bank Governors Indicate
Europeans to See More Interest Rate Hikes, Central Bank Governors Indicate Further rate hikes are warranted by persisting inflation in the eurozone, according to members of its mon