According to Form D documentation submitted to the United States Securities and Exchange Commission (SEC) on August 26, Fidelity Investments' Head of Fidelity Consulting Peter Jubber has filed for a new US-based Bitcoin index fund.

• The fund has been titled the “Wise Origin Bitcoin Index Fund I” and requires a minimum investment of $100,000
• The fund, the first of its kind from Fidelity, will be offered through a distinct Fidelity division called Fidelity Digital Funds
• Filed under the Rule 506(b) exemption, the fund can receive unlimited investment from accredited investors but is not permitted to be advertised
• Fidelity has declined to disclosed the issuer size
• Institutional investment has grown exponentially in the past 2 years; Grayscale reported over $1 billion in investments in the first 6 months of 2020

Related Reading:

• Grayscale buys more Bitcoin than is mined
• Grayscale buys 48% of Ethereum mined between January and April 2020