Fidelity is expanding its crypto offering with Ethereum Index Fund, for which it has already raised $5 million, the financial holding said in a regulatory filing with the US Securities and Exchange Commission (SEC). The Boston-based brokerage firm said that the first sales took place on Sep. 26.
The index is only available to accredited investors with a minimum deposit of $50,000 and tracks the performance of the Fidelity Ethereum Index PR benchmark.
Fidelity to Double Crypto Arm to Prepare for Rising Demand
The move comes shortly after Fidelity Investments announced plans to start offering bitcoin (EXANTE: Bitcoin) to its retail clients. The firm so far offers several crypto ETFs as well as cryptocurrency trading and custody services to institutional clients.