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* * @link https://developer.wordpress.org/themes/basics/template-files/#template-partials * * @package CoverNews */ ?> Fidelity Launches Ethereum Index Fund — Sees Client ‘Demand for Exposure to Digital Assets Beyond BTC’ – Finance Bitcoin News – CoinsMegaNews

Fidelity Launches Ethereum Index Fund — Sees Client ‘Demand for Exposure to Digital Assets Beyond BTC’ – Finance Bitcoin News

3 years ago CryptoExpert
Fidelity Launches Ethereum Index Fund — Sees Client 'Demand for Exposure to Digital Assets Beyond BTC'

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Fidelity Launches Ethereum Index Fund — Sees Client 'Demand for Exposure to Digital Assets Beyond BTC'

A filing with the U.S. Securities and Exchange Commission has shown that Fidelity looks to launch an investment product known as the Fidelity Ethereum Index Fund on October 4, 2022. While the new fund is not an exchange-traded fund it is said to be structured as a “traditional limited partnership.”

Traditional Limited Partnership

According to a filing lodged with the U.S. Securities and Exchange Commission (SEC), Fidelity planned to launch an Ethereum index on October 4, 2022. As per the filing, a minimum investment accepted from an outsider interested in the security is $50,000. At the time of writing, the fund had just over $5 million worth of assets.

As explained by a report published by Barron’s Advisor, the new security, which is also known as the Fidelity Ethereum Index Fund, is not an exchange-traded fund (ETF). Instead, the ethereum index fund is said to be structured as a “traditional limited partnership.”

A limited partnership according to Investopedia, is a partnership made up of two or more partners. One partner known as the general partner is responsible for managing the business while other partners who are also known as limited partners are not involved in the day-to-day activities of the business.

Clients’ Demand for Exposure Beyond Bitcoin

Commenting on the revelations that Fidelity had launched an ETH-based index fund less than two years after it launched a similar fund for bitcoin, a spokesperson for the investment company reportedly said:

We have continued to see client demand for exposure to digital assets beyond bitcoin.

The new fund, whose benchmark is the Fidelity Ethereum Index PR (FIDETHP), is reportedly constructed using the second largest crypto asset’s price feeds which are obtained from the so-called approved exchanges.

What are your thoughts about this story? Let us know what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.



Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: ThomasAFink / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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