Fidelity reveals Ethereum index fund with $5,000,000 in sales in new filing

Companies • October 4, 2022, 2:56PM EDT
The Block

Quick Take

  • The multi-trillion dollar investment firm will offer clients exposure to ETH with the Ethereum Index Fund.

  • A filing with the U.S. Securities and Exchange Commission (SEC) showed the fund already has just over $5,000,000 in sales.

A new Ethereum Index Fund launched by Fidelity Investments provides its clients exposure to ETH, according to a document the firm filed with the SEC on Sept. 26.

The fund launched by the multi-trillion dollar asset manager is accepting minimum outside investments of $50,000 and showed just over $5,000,000 in reported sales, CoinDesk first reported.

News that Fidelity might soon provide crypto offerings to retail consumers spread across the wires earlier this month.

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Fidelity helped establish routes to crypto markets in 2018 when it launched a bitcoin trading business aimed at institutional investors and hedge funds. In 2020, Fidelity launched a bitcoin index fund that, last May, surpassed $125 million in investments.


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About Author

Jeremy Nation is a senior reporter at The Block covering the greater blockchain ecosystem. Prior to joining The Block, Jeremy worked as a product content specialist at Bullish and Block.one. He also served as a reporter for ETHNews. Follow him on Twitter @ETH_Nation.