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.
