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Fidelity to Launch Crypto and Metaverse ETFs
Summary: Fidelity Investments announced today they will launch two new thematic exchange-traded funds (ETFs) available for investors and financial advisors on April 21, 2022 furthering themselves into the crypto and digital world space. Two thematic ETFs Fidelity Crypto Industry and Digital Payments ETF (FDIG) Fidelity Metaverse ETF (FMET) The two new thematic ETFs expand Fidelity’s interests ...
Fidelity Investments announced today they will launch two new thematic exchange-traded funds (ETFs) available for investors and financial advisors on April 21, 2022 furthering themselves into the crypto and digital world space.
Two thematic ETFs
The two new thematic ETFs expand Fidelity’s interests into the crypto and metaverse worlds. While the Crypto Industry and Digital Payments Method doesn’t offer direct exposure to cryptocurrency, it will allow investors the opportunity to invest in companies that support the broader digital assets ecosystem which would include crypto mining, trading, blockchain technology, digital payments processing, etc.
The Fidelity Metaverse ETF provides investors the opportunity to support companies that develop, manufacture, distribute or sell products and services in establishing and maintaining the metaverse. These products and services are computing hardware and components, digital infrastructure, engineering software, gaming technology, etc.
“Leveraging Fidelity’s decades of investment expertise, we are focused on growing our broad product lineup with innovative strategies that offer choice, value and new opportunities to investors,” said Greg Friedman, Fidelity’s Head of ETF Management and Strategy. “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.”
The firm, with around $4.2 trillion in assets under management, filed an application for a metaverse ETF in January of this year. In that same month, the U.S. Securities and Exchange (SEC) refused to grant a Fidelity spot bitcoin ETF in the U.S.
Fidelity launched their digital assets division in 2018, which provides basic concepts into the ever-evolving digital world in the form of definitions of words, support and research for its investors.
The website claims a “growing number of institutional investors believe that digital assets should be a part of their investment portfolios,” and wants Fidelity to be a part of that solution.
Author: Tyler Irvin
Tags: Crypto,Fidelity,Metaverse
Link: Fidelity to Launch Crypto and Metaverse ETFs [Copy]
