Fidelity Introduces New Bitcoin Fund

Fidelity, a leading financial services provider, has launched the Fidelity Wise Origin Bitcoin Fund (FBTC), a new fund that provides investors with exposure to the price of bitcoin.

The FBTC is one of the first spot bitcoin exchange-traded products in the industry. It offers investors a convenient and secure way to invest in bitcoin without having to buy and hold the cryptocurrency directly. The fund is available through Fidelity's website and mobile app, and it has a minimum investment of $1.

The FBTC is managed by Fidelity Digital Assets, a subsidiary of Fidelity that provides institutional-grade custody and trading services for digital assets. The fund is backed by the same security and compliance standards as Fidelity's other investment products.

"With the launch of the FBTC, we are providing investors with a new way to access the potential returns of bitcoin," said Tom Jessop, president of Fidelity Digital Assets. "This fund offers a convenient and secure way to invest in bitcoin, and it is backed by the trusted name of Fidelity."