Fidelity International launches Bitcoin ETP on Deutsche Boerse

Major fiscal services steadfast Fidelity International volition beryllium listing a Bitcoin exchange-traded merchandise connected the SIX Swiss Exchange and Germany’s Xetra integer banal exchange.

According to a Tuesday announcement from Deutsche Boerse, a carnal Bitcoin exchange-traded product, oregon ETP, from Fidelity International is present disposable for trading connected the Deutsche Boerse Xetra and Frankfurt Stock Exchange nether the ticker FBTC. In addition, the institution reportedly said it planned to person the crypto concern conveyance listed connected the SIX Swiss Exchange successful the coming weeks.

Fidelity Digital Assets volition enactment arsenic the custodian for the physically-backed Bitcoin (BTC) ETP, which volition beryllium centrally cleared with planetary speech Eurex Clearing. The ETP has a full disbursal ratio of 0.75%.

At the clip of publication, FBTC was trading for astir 3.83 euros, oregon $4.36, connected some the Xetra and Frankfurt Stock Exchange. The terms of Bitcoin is presently $43,590, having concisely risen to much than $45,000 connected Thursday.

2-day terms question of Fidelity Physical Bitcoin ETP connected Xetra. Source: Deutsche Boerse

The Xetra integer banal speech presently offers vulnerability to cryptocurrencies including BTC, Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), Cardano (ADA), Solana (SOL), Stellar (XLM), Tezos (XTZ), and Tron (TRX) done exchange-traded products and notes. In November, plus manager Invesco announced it had listed a BTC ETP connected the speech nether the ticker awesome BTIC.

Launched successful 1969 arsenic a subsidiary of the U.S.-based steadfast Fidelity Investments, Fidelity International had much than $812 cardinal successful assets nether absorption arsenic of Dec. 31, 2021. The steadfast has antecedently invested successful crypto-related firms crossed the globe including the Hong Kong-based BC Group.

While Fidelity International listed an ETP with vulnerability to crypto successful Europe, its U.S. genitor institution still has applications nether consideration by the Securities and Exchange Commission. The regulator rejected Fidelity's Wise Origin Bitcoin Trust spot ETF successful January.