World Famous Fund Invested In These 3 Altcoins! –

Fidelity Concord Street Trust, which invests somewhat in everything with $11 billion in assets under management, has invested in a number of crypto-related assets, though not directly in leading crypto Bitcoin or leading altcoin Ethereum.

Giant fund indirectly invested in 3 altcoin projects

The Fidelity Concord Street Trust owns $4.6 million worth of Coinbase, $1 million worth of MicroStrategy, half a million worth of both Riot and Marathon Bitcoin mining and a number of Special Purpose Acquisitions (SPACs). This includes Blockchain Coinvestors Acquisition Corp and Blockchain Moon Acquisition Corp at $90,000 and $62,000 respectively. The former is still looking for a Blockchain company to go public, while the latter has signed an agreement to buy all Web3 assets of DLTx ASA, a Norwegian company. DLTx says:

We provide hash power to the Bitcoin protocol, it earns us BTC. We provide data storage to the Filecoin protocol, it gives us FIL. We provide Blockchain nodes/servers to Pocket network, it earns us POKT. We also provide access points / coverage to the Helium protocol, it saves us HNT. Protocols are great clients that always pay on time, act predictably, and are completely transparent.

Interestingly, the long list of assets purchased by this Fidelity fund doesn’t even include a company with Ethereum or Bitcoin in its name. It only includes a cryptocurrency-related company. They own Crypto 1 Acquisition Corp., a SPAC launched in late 2021, worth about $26,000. The company raised $230 million in an Initial Public Offering (IPO) and plans to take a crypto exchange public. The company has not commented on how they have progressed so far on the acquisition path. Their debut, however, coincided with the top of the bearish market soon after.

Cryptos are now part of stock portfolios

This may be one of the best times to consider for a purchase due to lower valuations. But focusing on the crypto exchange doesn’t leave many options. Kraken is a contender for the IPO alongside EU-based Bitstamp. However, neither may want to do so during a bear market as there may be low demand. There aren’t many other western exchanges to point to, but every non-English speaking country tends to have its own exchange.

BitPanda, for example, is big in Germany with 3.5 million customers. They have diversified into equities as well, so they have crypto indices like the lesser known Robinhood or Revoluts and, somewhat uniquely, BCI DeFi Leaders. cryptocoin.comAs you know, Turkey has btcTurk. Both may eventually have interesting IPOs in addition to other local exchanges.

Therefore, the public crypto exchange will likely increase and with it the random indirect crypto investment of funds will also increase. However, only a few funds still have such a risk, but this Fidelity investment is notable as a sign of change. Altcoin projects are now starting to become part of diversified stock portfolios. It allows investors to access the crypto market haphazardly and often unknowingly, especially in funds with broad market exposure.

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