Managed by Chief Strategist Peter Jubber, the Wise Origin Bitcoin Index Fund I, LP, is a passively managed vehicle that Fidelity sells to qualified investors through its subsidiary Fidelity Digital Funds. Some 83 investors have pooled their bets (at least $ 50,000 each) for a total increase of $ 102,350,437, according to documents filed by the Securities and Exchange Commission (SEC).
This is enough to make Fidelity’s offering one of the largest of its kind. Only Pantera, Galaxy and NYDIG, which recently began providing access to Morgan Stanley clients, reported more than $ 100 million in sales for a bitcoin-only fund.
Morgan Stanley’s standalone bitcoin fund, offered in partnership with NYDIG, managed $ 29.4 million in its first two weeks, as CoinDesk first reported in April.
These funds are only open to qualified investors. Loyalty rose to launch a more widely available bitcoin exchange-traded fund (ETF) – also under the “Wise Origin” brand. The SEC has yet to approve a bitcoin ETF, crushing dozens of proposals in recent years.
Fidelity did not immediately respond to CoinDesk’s request for comment.