Peter Jubber, Head of Strategy and Planning at Fidelity Investments, is planning to launch a new bitcoin index fund called Wise Origin Bitcoin Index Fund, according to filed paperwork with the US Securities and Exchange Commission (SEC).
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The filling states the minimum investment accepted from any outside investor is $100,000. Fidelity declined to comment on the matter.
Prior to Fidelity, Jubber worked at JPMorgan, IBM and other big companies. According to the filling, Jubber will serve as Wise Origin Bitcoin Index Fund Director and Executive Officer.
Previously, Fidelity Digital Assets, a subsidiary of Fidelity Investments focused on digital assets, published a new report titled "Bitcoin Investment Thesis: an Aspirational Store of Value," in which the crypto-focused arm explains why bitcoin outperforms other assets as a store of value.
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Fidelity Digital Assets admits bitcoin (EXANTE: Bitcoin) is "relatively nascent" and yet has limited demand compared to a global store of wealth such as precious metals.