Fidelity’s Bitcoin ETF draws $40M in largest single investment from advisers

Financial advisers Legacy Wealth Management and United Capital Management of Kansas have each invested $20 million in shares of the Fidelity Wise Origin Bitcoin Fund (FBTC).

Fidelity’s Bitcoin exchange-traded fund (ETF) has achieved a new record as the largest single investment in a Bitcoin fund, attracting $40 million from two traditional United States financial advisers. 

According to Bloomberg analyst Eric Balchunas, financial advisers Legacy Wealth Management and United Capital Management of Kansas have each recently invested $20 million in shares of the Fidelity Wise Origin Bitcoin Fund (FBTC), joining the fund’s top shareholders.

Legacy Wealth Management oversees more than $359 million in assets under management, while United Capital Management of Kansas manages over $436 million. The figures are part of recent 13F form filings submitted by asset managers to the U.S. Securities and Exchange Commission (SEC) for the first quarter of 2024.

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