The US Securities and Exchange Commission today published a new application for a Bitcoin index fund recently submitted by ’s president and head of strategy and planning, Peter Jubber.
According to the filing document published by the SEC, the proposed fund called ‘Wise Origin Bitcoin Index Fund I, LP,’ and is meant to target deep-pocket investors with the minimum participation tag set at $100,000.
Notably, the fund lists Peter Jubber as executive officer and also includes details for a Boston office building that shares the same address with where Fidelity headquarters are exactly located. The SEC filing, however, doesn’t show further details about the fund structure or products, and also didn’t highlight any existing investors.
Fidelity Investments, which currently manages $8 trillion on behalf of its customers, has been a leader in helping clients navigate crypto markets, and was among the first Wall Street firms to allow to view their crypto holdings right on its platform.
Fidelity’s cryptocurrency investment arm has also secured approval to operate as a trust in the state of New York, which allows the company to widen its business beyond just being a .
Fidelity Investments established its new subsidiary back in 2018 to help professional investors – including hedge funds and family offices – gain exposure to crypto-assets using an over-the-counter (OTC) trading desk
The company already features institutional-grade, crypto linked services, including custody offerings to safeguard holdings and execution services 24 hours a day, seven days a week.
Most recently, in June, a regulatory disclosure with the Ontario watchdog showed that the investing giant owns around 10.6% stake in the mining firm Hut 8.
Despite investor interest, it seems unlikely that the as an underlying asset in a regulated investment vehicle any time soon.
Pending regulatory decision, the Fidelity proposal could ultimately join the long list of failed attempts to get , leaving the title for the first approved BTC exchange-traded product still empty.