Fidelity Investments Launches Crypto And Metaverse ETFs-Says ‘We Keep Looking at Demand’ CryptoGlobe

Fidelity Investments, one of the largest financial services companies with more than $ 11 trillion under administration, has launched exchange-traded funds (ETFs) focused on the crypto ecosystem and the metaverse. “We continue to see the need, especially from young investors, to access fast-growing industries,” Fidelity said.

Honesty sees the need for crypto and metaverse investments

Fidelity Investments this week announced the launch of several exchange-traded funds (ETFs) to give investors exposure to the crypto 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 asset ecosystem, including those involved in crypto mining and trading, blockchain technology, and digital payment processing,” the company described. However, this crypto ETF does not provide direct cryptocurrency exposure.

The second is called “Fidelity Metaverse ETF (FMET)”. It invests in companies that “develop, manufacture, distribute or sell products or services related to the construction and activation of Metaverse.” These include companies focused on “computer hardware and components, digital infrastructure, design and software engineering, gaming technology and software, web development and content services, as well as technologies for smartphones and gadgets available ”.

The new ETFs will be available on or about April 21 for retail investors and financial advisors to purchase commission-free through Fidelity’s online brokerage platforms, the announcement said. The company noted that of the new products added, Fidelity will offer a total of 51 ETFs.

Fidelity was a major financial services company with assets under administration of $ 11.1 trillion in February. Based in Boston, the company serves more than 40 million individual investors worldwide.

Greg Friedman, head of ETF management and strategy at Fidelity, commented:

We continue to see demand, especially from young investors, for access to fast-growing digital ecosystem industries, and these two thematic ETFs offer investors exposure. in a familiar investment vehicle.

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What do you think of Fidelity’s launch of crypto and metaverse ETFs? Let us know in the comments section below.

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Kevin Helms

An economics student from Austria, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

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