There would be no direct exposure to cryptocurrencies via the crypto ETF.
There are more than 40 million individuals that use the company’s services.
Investors will soon be able to have access to the crypto business and the metaverse via two new exchange-traded funds (ETFs) from Fidelity Investments. Fidelity Crypto Industry and Digital Payments ETF (FDIG) is the first one. Cryptocurrency mining and trading firms, blockchain technology, and digital payment processors are among the companies it invests in, according to the firm’s description. There would be no direct exposure to cryptocurrencies via this crypto ETF, though.
The “Fidelity Metaverse ETF (FMET)” is the second. A company that invests in firms that create and enable the metaverse, invests in companies that design, produce, distribute, or sell goods or services. Computing hardware and components, digital infrastructure, design and engineering software, gaming technology, web development, content services, and smartphone and wearable technology are all included.
Offered Commission-free
By April 21, the new ETFs will be offered to investors and financial advisers commission-free via Fidelity’s online brokerage platforms, according to the statement. According to the business, Fidelity will now have 51 ETFs to choose from. Fidelity Investments is a prominent financial services provider, managing $11.1 trillion in assets as of February. There are more than 40 million individuals that use the company’s services.
ETF manager Greg Friedman, head of strategy at Fidelity, said:
“We continue to see demand, particularly from young investors, for access to the rapidly growing industries in the digital ecosystem, and these two thematic ETFs offer investors exposure in a familiar investment vehicle.”
As the cryptocurrency rout deepened, Bitcoin (BTC) fell below a critical support level. Losses in recent weeks are part of a trend that suggests the token is headed lower.