Fidelity Investments launches 2 new crypto ETFs

International investment giant Fidelity Investments has announced the launch of new exchange-traded funds (ETF) offerings. The company has implemented 2 products that are related to cryptocurrencies. The organization announced the entry into the traditional exchange ETF Fidelity Metaverse (FMET) and ETF Fidelity Crypto Industry and Digital Payments (FDIG).

According to official data, trading started on April 21, 2022. The Metaverse Foundation will monitor and invest in young and promising Web 3.0 startups that are developing virtual worlds. The FDIG fund will not give clients direct access to the ownership of cryptocurrency assets. With its help, contributions will be made to firms that support the digital asset ecosystem, including those organizations that are engaged in mining and trading of cryptocurrencies, blockchain development and payment processing.

Greg Friedman, head of Fidelity ETF management, assured that the number of young investors is growing rapidly. The new ETFs will allow clients to access an expanded range of instruments, which is very important for the further development of the cryptocurrency industry.

He noted that the Fidelity Metaverse Fund is entering the market with the lowest fees of the four other ETFs that track the Metaverse industry. Bloomberg’s Eric Balciunas said the fund is likely to reach $1 billion within a year.

Earlier edition informed that the management of Fidelity Investment has revealed that it has released the ETP Fidelity Physical Bitcoin. It was listed on major European stock exchanges such as Deutsche Boerse and Frankfurt Stock Exchange under the ticker FBTC. The product has become the cheapest spot bitcoin ETP in the EU.

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