Fidelity Investments Launches Crypto, Metaverse ETFs — Says ‘We Continue to See Demand’ – Finance Bitcoin News

Fidelity Investments, one of many largest monetary providers corporations with greater than $11 trillion underneath administration, is launching exchange-traded funds (ETFs) specializing in the crypto ecosystem and the metaverse. “We proceed to see demand, notably from younger traders, for entry to the quickly rising industries,” mentioned Fidelity.

Fidelity Sees Demand for Crypto, Metaverse Investments

Fidelity Investments introduced the launch of a few exchange-traded funds (ETFs) this week to provide traders publicity to the crypto business and the metaverse.

The first is known as “Fidelity Crypto Industry and Digital Payments ETF (FDIG).” It invests in firms that “assist the broader digital property ecosystem, together with these concerned in crypto mining and buying and selling, blockchain expertise, and digital funds processing,” the agency described. However, this crypto ETF is not going to provide direct publicity to cryptocurrency.

The second is known as “Fidelity Metaverse ETF (FMET).” It invests in firms that “develop, manufacture, distribute, or promote services or products associated to establishing and enabling the metaverse.” They embrace corporations specializing in “computing {hardware} and elements, digital infrastructure, design and engineering software program, gaming expertise and software program, internet improvement and content material providers, and smartphone and wearable expertise​.”

The new ETFs will likely be out there on or about April 21 for particular person traders and monetary advisors to buy commission-free by Fidelity’s on-line brokerage platforms, the announcement particulars. The firm famous that with the brand new merchandise added, Fidelity will provide 51 ETFs altogether.

Fidelity is a serious monetary providers agency with property underneath administration of $11.1 trillion as of February. Headquartered in Boston, the corporate serves greater than 40 million particular person traders worldwide.

Greg Friedman, Fidelity’s head of ETF administration and technique, commented:

We proceed to see demand, notably from younger traders, for entry to the quickly rising industries within the digital ecosystem, and these two thematic ETFs provide traders publicity in a well-recognized funding car.

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Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source methods, community results and the intersection between economics and cryptography.

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