Last Updated on May 28, 2021 by Jason
The first Bitcoin fund of Fidelity Investments has managed to raise $102 million from affluent investors since it got its start back in August of 2020.
The fund is passively managed by Peter Jubber through a subsidiary of Fidelity Digital Funds. 83 investors came together to raise the funds. The sum is enough to break a record for being one of the largest of its kind. Only companies like Galaxy have topped this.
These types of funds are only open and available to accredited investors. Fidelity plans to develop a Bitcoin exchange-traded fund, which has yet to be approved by the SEC.