2 years ago
Michael Bellusci is CoinDesk's crypto payments reporter.
Fidelity Investments, the world’s fourth-largest plus absorption company, said it plans to connection 2 exchange-traded funds for investors to summation vulnerability to the broader crypto, blockchain and integer outgo ecosystems.
The Fidelity Metaverse ETF (FMET) volition usually put astatine slightest 80% of assets successful securities included successful the Fidelity Metaverse Index, on with depositary receipts representing securities included successful the index, the steadfast said successful a statement Tuesday. The Fidelity Crypto Industry and Digital Payments ETF (DIG) volition person a akin vulnerability to companies related to crypto, blockchain exertion and integer payments processing.
“We proceed to spot demand, peculiarly from young investors, for entree to the rapidly increasing industries successful the integer ecosystem, and these 2 thematic ETFs connection investors vulnerability successful a acquainted concern vehicle,” Greg Friedman, Fidelity’s caput of ETF absorption and strategy, said successful the statement.
Trading successful the funds is apt to commencement astir April 21, Fidelity said. Both volition beryllium passively managed.
The firm, which has astir $4.2 trillion successful assets nether management, filed an application for a metaverse ETF precocious successful January. The aforesaid month, the U.S. Securities and Exchange Commission refused to approve a Fidelity spot bitcoin exchange-traded money successful the U.S., though the firm's Canadian limb has 1 listed successful Canada.
The firm’s integer division, Fidelity Digital Assets, launched successful 2018 and features custody and commercialized execution for organization investors.
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Michael Bellusci is CoinDesk's crypto payments reporter.
Michael Bellusci is CoinDesk's crypto payments reporter.
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