Fidelity Investments, one of many largest monetary providers companies with greater than $11 trillion below administration, is launching exchange-traded funds (ETFs) specializing in the crypto ecosystem and the metaverse. “We continue to see demand, particularly from young investors, for access to the rapidly growing industries,” stated Fidelity.
Fidelity Sees Demand for Crypto, Metaverse Investments
Fidelity Investments introduced the launch of a few exchange-traded funds (ETFs) this week to supply buyers publicity to the crypto business and the metaverse.
The first is named “Fidelity Crypto Industry and Digital Payments ETF (FDIG).” It invests in corporations that “support the broader digital assets ecosystem, including those involved in crypto mining and trading, blockchain technology, and digital payments processing,” the agency described. However, this crypto ETF won’t supply direct publicity to cryptocurrency.
The second is named “Fidelity Metaverse ETF (FMET).” It invests in corporations that “develop, manufacture, distribute, or sell products or services related to establishing and enabling the metaverse.” They embody companies specializing in “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 probably be out there on or about April 21 for particular person buyers and monetary advisors to buy commission-free by way of Fidelity’s on-line brokerage platforms, the announcement particulars. The firm famous that with the brand new merchandise added, Fidelity will supply 51 ETFs altogether.
Fidelity is a serious monetary providers agency with property below administration of $11.1 trillion as of February. Headquartered in Boston, the corporate serves greater than 40 million particular person buyers worldwide.
Greg Friedman, Fidelity’s head of ETF administration and technique, commented:
We proceed to see demand, notably from younger buyers, for entry to the quickly rising industries within the digital ecosystem, and these two thematic ETFs supply buyers publicity in a well-known funding car.
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