Fidelity Bitcoin Fund Attracts 102M in First 9 Months
A new exchange-traded product that tracks the price of bitcoin without buying or holding it directly
It is for investors with a high-risk tolerance and offers simplicity, expertise, and value.
Fidelity Investments’ Bitcoin fund has attracted $102 million in investment in its first nine months, according to new SEC filings. The fund, which trades under the ticker FBTC, is an exchange-traded product that tracks the price of bitcoin without buying or holding it directly. This makes it an attractive option for investors who want exposure to the cryptocurrency market without the risks and complexities of buying and storing bitcoin themselves.
FBTC is designed to provide investors with a convenient and efficient way to gain exposure to bitcoin. The fund is managed by Fidelity Digital Assets, a subsidiary of Fidelity Investments that specializes in digital asset custody and trading. FBTC is listed on the Nasdaq Stock Market and trades like a traditional stock. This makes it easy for investors to buy and sell their investments, and it also provides them with access to real-time pricing and market data.
FBTC is a new type of investment product that is designed to meet the needs of investors who are interested in the cryptocurrency market but may not be comfortable with the risks and complexities of buying and holding bitcoin themselves. The fund offers a convenient and efficient way to gain exposure to bitcoin, and it is backed by the expertise and resources of Fidelity Investments.
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