Fidelity continues to expand in the cryptocurrency market with a new Bitcoin (BTC) fund. The president of the company has filed documents with the U.S. Securities and Exchange Commission (SEC) in order to handle a new fund related to Bitcoin, the largest cryptocurrency in the market. 

Fidelity Works on New Bitcoin Product

The new fund is going to be called Wise Origin Bitcoin Index Fund and it will be considered a pooled investment fund. The Regulation D filing has been dated on August 26 and it will allow the entity to offer financial securities without the registration approval given by the SEC. 

Although the company has not released information about the plans they have for this fund, it is possible to have an idea of what the firm is looking for. In a recently released document, the firm released information of 800 institutional investors in the United States and Europe in which they inform the amount of these entities that have invested in digital assets and Bitcoin. 

The minimum investment for this fund will be $100,000 and it will be available to as many accredited investors as desired. Nevertheless, Fidelity will not be able to advertise the product to the general public. There are other regulations that Fidelity will have to follow as well. 

Fidelity is working very hard in order to offer users and investors with new tools and investment options to get access and exposure to the cryptocurrency market and Bitcoin. The most popular digital asset was able to break above $11,000 and surpass its highest price in one year. 

Institutions and traditional investors are focusing on the advantages that Bitcoin and the crypto market can offer. Now that the Coronavirus crisis seems to be fading, investors are looking for new opportunities with assets that will be providing higher returns. This can also be explained because of the negative interest rates that some central banks have in some countries. 

The stock market and Bitcoin continue to grow over time and this could be a buy signal for some experts and larger investors in the world. Some altcoins are also showing bullish momentum as they are reaching all-time highs or the highest price in the last few years. 

Bitcoin (BTC) is currently being traded around $11,400 and it has a market valuation of $210 billion U.S. dollars.