Fidelity Bitcoin Fund Attracts $102M in First 9 Months

Fidelity Bitcoin Fund Attracts $102M in First 9 Months

Fidelity Investments’ first bitcoin fund has raised $102 million from wealthy investors since launching last August, according to Wednesday regulatory filings.

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 Fidelity Digital Funds subsidiary. Some 83 investors pooled their bets (at a minimum of $50,000 each) for a total raise of $102,350,437, the Securities and Exchange Commission (SEC) filings show.

That’s enough to make Fidelity’s offerings one of largest of its kind. Only Pantera and Galaxy, which recently began providing access to Morgan Stanley clients, have 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.

Such funds are only open to accredited investors. Fidelity has moved to launch a more broadly available bitcoin exchange-traded fund – also under the “Wise Origin” brand.

Fidelity did not immediately respond to CoinDesk’s request for comment.