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One of the largest mutual funds in the U.S., Fidelity Investments, is enhancing its efforts in the Bitcoin and crypto space with its chief strategist, Peter Jubber, starting an institutional-grade and high net worth clients-focused BTC index.

According to a filing sent to the Securities Exchange Commission (SEC), Fidelity Investments has launched a new Bitcoin index fund, ‘Wise Origin Bitcoin Index Fund I, LP’ that targets high net worth investors and institutions.

A $100,000 minimum buy-in value is required by the index fund following the demand by corporations and accredited investors on Wall Street on cryptocurrency investments.

The Wise Origin Bitcoin fund was launched by the head of strategy and planning at Fidelity Investments, Peter Jubber, in conjunction with the mutual fund’s brokerage and distribution divisions.

The fund aims to provide a gateway for accredited investors on Wall Street to dip their feet into crypto.

Fidelity is known for its soft stance on crypto investing, owning stakes in crypto companies such as Canadian mining firm, 8Hut, and providing custodial services to institutions.

Jubber, also a well-known enthusiast and evangelist of Bitcoin and blockchain, in 2017 said the firm was sketching out a decade long plan on the impacts and opportunities that blockchain technology offers to traditional finance.

Peter will lead the ‘Wise Origin Bitcoin Index Fund’ as the executive director and FD’s Fund’s president.

Reports on Forbes also confirm that a Delaware based firm, FD Funds GP will become a general partner to Fidelity’s new BTC fund.

Fidelity’s reports on the cryptocurrency market this June showed that over 36% of big institutional investors were taking up digital assets, and another 80% of them stating they find crypto appealing.

Moreover, a recent report by the mutual fund concluded there is an increasing interest in Bitcoin as a store of value with the world’s witnessing unprecedented fiscal and monetary policies.

In other trending Bitcoin News today:

Stablecoin metric hints Bitcoin price will rise as buyers snap up BTC!

At $11,400, Bitcoin (BTC) is ripe for a fresh price surge thanks to stablecoin investors buying up cheap coins, data suggests.

Highlighting the latest readings from its stablecoin supply ratio (SSR) metric on Aug. 26, on-chain monitoring resource Glassnode forecast upside for BTC/USD.

SSR refers to the potential buying power of stablecoins over Bitcoin. A low Bitcoin price allows stablecoin owners, for example, on exchanges, to purchase more of the BTC supply.

This demand pushes the price of Bitcoin up, given its predictable, verifiable supply and high stock-to-flow ratio.

As the price increases, stablecoins, which remain priced the same in whichever fiat currency they are pegged to, can buy less of the BTC supply.

The ability to enter a BTC position is called “buying power.”

Currently, that buying power is high, meaning stablecoin owners can purchase a comparatively large amount of the supply.

“SSR is 3x stronger than it was when BTC hit these price levels over a year ago,” Glassnode commented.

In another tweet, the firm noted that the largest stablecoin, Tether (USDT), was conspicuously primed to enter such positions.

“Further support comes from an increase in the $USDT (ERC20) balance on exchanges over the past year — indicating that stablecoins are waiting on the sidelines.”

Tether’s market cap passed a landmark $10 billion in July. In terms of average daily transfer value, USDT beat both Bitcoin and PayPal this month.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

💥💥💥This is a game changer: Nasdaq listed company with $250M bitcoin (25% of assets, 15% of market cap) is basically a bitcoin ETF!Shareholders have 15% BTC exposure and 85% tech. No capital charges (like banks & pension funds), no SEC approval needed (like ETF)

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— PlanB (@100trillionUSD) August 26, 2020

https://medium.com/@100trillionUSD/bitcoin-stock-to-flow-cross-asset-model-50d260feed12

https://ir.microstrategy.com/news-releases/news-release-details/microstrategy-adopts-bitcoin-primary-treasury-reserve-asset

https://cointelegraph.com/news/stablecoin-metric-hints-bitcoin-price-will-rise-as-buyers-snap-up-btc

https://cointelegraph.com/news/latest-fidelity-filing-outlines-mainstream-bitcoin-trading-product

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The Bitcoin price moved 42% in the past 12 hours making it the 4th largest gain in history and the largest since May 10th, 2011.

The Cryptocurrency markets have been on fire with a $55 Billion cash injection making it one of the largest pumps in recent history.

3 reasons why the BTC price surged:

1 – President Xi Jinping supports blockchain in China.

2 – CME Bitcoin futures expired yesterday (4PM London time, last Friday of the month).

3 – Crypto Capital CEO arrested. Exchanges, such as Bitfinex, may get some of the seized 850 million back.

Anthony Pompliano tweeted, “BREAKING: Chinese President Xi Jinping just publicly supported China going all-in on blockchain technology across their economy.

This will be the space race of our generation. America has to embrace the technology, including Bitcoin, or we risk being left behind.”

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

News Resources From Today’s Show:

Three Reasons Why Bitcoin (BTC) Price Surged 40 Percent

$BTC has moved +42% today– 4th largest gain in history and largest since May/10/2011 (if comparing against daily returns).– 15th largest two-day gain in history, Nov/18/2013.Thank you China.

President Xi is the true Crypto Dad.

— Alex Krüger (@krugermacro) October 26, 2019

∙ Today’s volume so far: 1131 BTC∙ Last traded price: $8,622.50

∙ Trading day progress: 54% (if this continues: 100% equals to 2095 BTC)

— Bakkt Volume Bot (@BakktBot) October 25, 2019

3 reasons why #Bitcoin surged today:> CME Bitcoin futures expired today (4PM London time, last Friday of the month).> President Xi Jinping supports blockchain in China.

> Crypto Capital CEO arrested. Exchanges, such as Bitfinex, may get some of the seized 850 million back.

— Gabor Gurbacs (@gaborgurbacs) October 25, 2019

BREAKING: Chinese President Xi Jinping just publicly supported China going all-in on blockchain technology across their economy.This will be the space race of our generation.

America has to embrace the technology, including Bitcoin, or we risk being left behind.

— Pomp 🌪 (@APompliano) October 25, 2019

Someone tell President @realDonaldTrump that there are only 21 million Bitcoin and China is planning to buy them all. This is going to be the real US – China competition.That should get him to pay attention.

The guy hates losing and will try to buy them all😂🙈

— Pomp 🌪 (@APompliano) October 26, 2019

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Crypto investment analyst Teeka Tiwari, who picked BTC at $428 in 2016 shared in a new interview, “In my opinion, over the next five years, a Bitcoin will be worth over a half a million dollars.”

The former hedge fund manger and Wall Street executive predicted back in August when Bitcoin was still trading at about $10,000 that BTC would reach $60,000 or $70,000 “a lot sooner than most people realize.”

“It’s still very much early days in bitcoin,” he stated. “I remember when I recommended bitcoin at $428. People told me I was crazy, that this ship had sailed, because bitcoin had been a hundred dollars, just a few years earlier.”

“A few years before that, [Bitcoin] was $10, and a year before that at seven cents,” he shared. “So people couldn’t understand how I could, in all good conscience, recommend bitcoin at $400. They said the same thing to me at $5,000, $10,000, $15,000. In my opinion, over the next five years, a bitcoin will be worth over a half a million dollars.”

In other trending Bitcoin News today: Square to acquire Australian fintech Afterpay in $29B deal.

Jack Dorsey’s cryptocurrency-friendly digital payments firm Square is expanding competition with global payment giants like PayPal by acquiring a major Australian lending company.

Square announced Sunday that the firm has entered into a scheme implementation deed to acquire all of the issued shares in fintech company Afterpay in a $29 billion deal. The transaction is based on the closing price of the Square common share and is expected to be paid in all stock in the first quarter of 2022.

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🔥 [IMPORTANT] – Secure your crypto with a Trezor or Ledger hardware wallet:

Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► http://ledger.cryptonewsalerts.net

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

https://www.breitbart.com/economy/2021/07/27/teeka-tiwari-bitcoin-will-be-check-against-central-banks-money-printing-debasement-currency/

https://cointelegraph.com/news/square-to-acquire-australian-fintech-afterpay-in-29b-deal

https://cointelegraph.com/news/there-s-no-reason-not-to-hold-bitcoin-for-100-years-michael-saylor-says