Fidelity Investments (one of the world’s largest financial institutions with $11 trillion under administration) is now launching ETFs that focus on the cryptocurrency ecosystem and the metaverse. “We continue to see demand, particularly from young investors, for access to the rapidly growing industries,” said Fidelity.
Fidelity Responds to Crypto- and Metaverse Investments
Fidelity Investments has launched a few exchange-traded funds this week in order to give investors access to the cryptocurrency industry and the metaverse.
The first is called “Fidelity Crypto Industry and Digital Payments ETF (FDIG).” It invests in companies that “support the broader digital assets ecosystem, including those involved in crypto mining and trading, blockchain technology, and digital payments processing,” the firm described. This crypto ETF won’t offer any direct exposure to cryptocurrency.
The second is called “Fidelity Metaverse ETF (FMET).” It invests in companies that “develop, manufacture, distribute, or sell products or services related to establishing and enabling the metaverse.” They include firms focusing on “computing hardware and components, digital infrastructure, design and engineering software, gaming technology and software, web development and content services, and smartphone and wearable technology.”
The new ETFs will be available on or about April 21 for individual investors and financial advisors to purchase commission-free through Fidelity’s online brokerage platforms, the announcement details. Fidelity now offers 51 ETFs, the company stated.
Fidelity, a large financial services company with $11.1 trillion in assets as of February, is one of the largest. The company is headquartered in Boston and serves over 40 million investors around the world.
Greg Friedman, Fidelity’s head of ETF management and strategy, commented:
This is why we continue to witness demand from investors especially young for easy access to rapidly expanding industries within the digital ecosystem. The two thematic ETFs give investors exposure through an established investment vehicle.
Fidelity launches crypto and metaverse ETFs. What do you think? Please leave your comments below.
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