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One of the world’s largest financial services business, Fidelity Investment, has launched a Fidelity Ethereum Index Fund via its subsidiary, Fidelity Digital Assets.
According to a recent SEC filing, the Boston investment giant offers its clients exposure to the leading smart contract network Ethereum at a minimum backing of $50,000. Until now, the newly launched fund holds more than $5 million in assets.
In August, The Wall Street Journal reported on rumors that the asset manager Fidelity, will soon be offering its customers the possibility to buy Bitcoin via its brokerage platform. That same month, Fidelity’s Global Macro Head, Jurrien Timmer, appeared on macro guru Raoul Pal’s Real Vision channel, where he said that Ethereum is in league of its own together with Bitcoin.
While at the start of 2022, the U.S. Securities and Exchange Commission (SEC) rejected Fidelity’s application for a Bitcoin Spot ETF, the firm launched two ETF focused on the crypto ecosystem and metaverse in April this year, the “Fidelity Crypto Industry and Digital Payments ETF (FDIG)” and “Fidelity Metaverse ETF (FMET)”.
Fidelity keeps over $4.5 trillion in assets under management and has roughly 34.4 million retail Clients.