Financial Giant Fidelity Files For New Bitcoin Fund

Plus surprise new accredited investor rules from the SEC

Happy Wednesday Blockfolians

The Lede

First of all, in case you didn’t see the news yesterday - Blockfolio is joining forces with FTX. We’re incredibly excited for the opportunities this will bring - including a retail experience coming later this fall. You can pre-register for that here.

On to our Lede topic today!

With $8.3 trillion in customer funds, Fidelity is one of the largest and best known asset managers in the world. Forbes’ Michael Castillo broke the news today that the firm had registered a new bitcoin fund.

This is the key detail:

However, to give an idea of how Fidelity might eventually use the newly revealed fund, the firm recently published the results of a survey of 800 institutional investors from the U.S. and Europe, finding that 36% of respondents were already invested in digital assets, while 60% said digital assets had a place in their portfolio.

If you need more evidence that bitcoin is infiltrating the highest halls of the world of institutional finance, look no further.

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Community Commentary

Wonder who Arjun is talking about here?
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Final Thought

RIP Mathew - what a loss.