Just In: Fidelity Acquires a 7.4% Stake in Bitcoin Mining Firm Marathon Digital Holdings

Major crypto asset manager, Fidelity Investments Inc has acquired a 7.4% stake in publicly listed Bitcoin mining firm, Marathon Digital Holdings. The stake, according to Forbes is worth about $20 million and it was made through a number of Fidelity backed indexes including Fidelity Extended Market Index Fund (FSMAX), Fidelity Nasdaq Composite Index Fund (FNCFX), Fidelity Total Market Index Fund (FSKAX) and Fidelity Series Total Market Index Fund (FCFMX).

The latest stake acquisition showcases the diverse ways in which the pursuit of crypto investments is becoming central to institutional investors on Wall Street and around the world as a whole. Fidelity Investments is arguably one of the biggest asset managers with a combined $170 billion in Assets Under Management (AUM), and its new stake in Marathon per the Forbes report was funded by the indexes whose funds that are backed by retirement accounts.

This is a developing story and will be updated shortly.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

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