The “Ethereum Index Fund” created by the multi-trillion dollar investment firm, Fidelity, which offers its clients ETH exposure is taking off. A filing with the US Securities and Exchange Commission (SEC) showed that this new mutual fund already has sales of just over $5,000,000.
The “Ethereum Index Fund” provides Fidelity Investments’ clients with ETH exposure, according to a document the company itself filed with the SEC on September 26. The fund accepts $50,000 as a minimum external investment and has over $5,000,000 in reported sales since its first days of operation.
This development comes to confirm the rumors that have been circulating lately that Fidelity was expected to enter the cryptocurrency industry even more vigorously and that it would offer new investment products to its clients.
Recall that in 2018 Fidelity helped create pathways to cryptocurrency markets when it launched a Bitcoin trading business targeting institutional investors and hedge funds. In 2020, it launched a Bitcoin index fund that, last May, surpassed $125 million in investments.
