Fidelity launches Ethereum Index Fund, Bitwise offers Metaverse ETF

Institutions continue to ramp up their cryptocurrency offerings as global regulators increasingly move towards establishing a working framework for dealing with the nascent asset class as adoption treks higher. 
Most recently, Fidelity Investments has launched a new Ethereum Index Fund that will provide its clients with exposure to Ether (ETH), according to a document the firm filed with the SEC on Sept. 26.
The new fund accepts minimum outside investments of $50,000 and it has already seen more than $5 million in reported sales. 
The multi-trillion dollar asset manager launched originally launched its crypto-focused institutional custody and trading platform Fidelity Digital Assets in 2018. The firm currently offers two exchange-traded crypto funds that are dedicated to the metaverse and digital payments. 
This most recent development follows last month's revelation that Fidelity Investments is mulling over the idea of letting all of its retail customers have access to trading Bitcoin (BTC) directly through the brokerage platform. 
Fidelity Digital Assets is also part of a group of institutions that are backing the launch of EDX Markets (EDXM), “a first-of-its-kind exchange that will address latent demand for digital asset trading by enabling safe and compliant trading of digital assets through trusted intermediaries.” 

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