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Banking Giant Wells Fargo Registered A Passive Bitcoin Fund With The SEC
Summary: According to Coindesk, citing sources familiar with the matter, Wells Fargo has registered a private Bitcoin fund with the Securities and Exchange Commission (SEC). The new fund, which is called FS NYDIG Bitcoin Fund I, is a passive fund other than positive. Passive funds generally select specific index stocks as their investment targets. They do ...
According to Coindesk, citing sources familiar with the matter, Wells Fargo has registered a private Bitcoin fund with the Securities and Exchange Commission (SEC).
The new fund, which is called FS NYDIG Bitcoin Fund I, is a passive fund other than positive.
Passive funds generally select specific index stocks as their investment targets. They do not actively seek out the performance of the market but try to replicate the performance of the index. Passive funds always maintain the average level of immediate market returns, so their returns will not be too high or too low.
NYDIG and FS Investments are cooperators in this issuance. Wells Fargo will take a share of sales through two subsidiaries, Wells Fargo Clearing Services, and Wells Fargo Advisors Financial Network.
By Mary Liu
Tags: Bitcoin,Fund,NYDIG,SEC,Wells Fargo
Link: Banking Giant Wells Fargo Registered A Passive Bitcoin Fund With The SEC [Copy]
