Fidelity Investments rolls out new cryptocurrency, metaverse ETFs

Fidelity Investments rolls out new cryptocurrency, metaverse ETFs

The new exchange-traded funds (ETFs) are intended to offer lucrative opportunities for investors to explore the crypto industry and metaverse

One of the largest financial services firms, Fidelity Investments with over $11 trillion in administration is pacing up the launch of exchange-traded funds (ETFs) catering to the cryptocurrency ecosystem and the metaverse.

The financial service company has forayed into the week with its new ETFs, fostering exposure for investors to participate in the crypto industry.

Speaking on the new deployment of funds, Greg Friedman, Heald of Management and Strategy of ETF, mentioned that the firm has seen a consistent demand, notably driven by young investors seeking access to the rapidly growing industries within the digital ecosystem.

The two new thematic ETFs are designed to open new avenues for investors enabling better exposure in a relevant investment vehicle.

It has been reported that the ETFs will be made available somewhere around April 21, allowing both individuals investors and financial investors commission free purchase options on Fidelity’s online brokerage platforms.

The Boston-based financial firm will now showcase a comprehensive portfolio of total of 51 ETFs post addition of the newly launched products, serving its existing global clientele of 40 million individual investors. 

Fidelity Investments’ two new thematic ETFs

  1. Fidelity Crypto Industry & Digital Payments ETF (FDIG)

The first ETF model will facilitate investments in companies that focus on the broader digital assets ecosystem, such as those involved in blockchain technology, crypto mining & trading, and digital payments processing.

Nevertheless, the first ETF will not guarantee outright exposure to the cryptocurrency ecosystem.

  1. Fidelity Metaverse ETF (FMET)

The second ETF product will infuse capital in initiatives focused on developing, manufacturing, distributing, or selling products/services that help boost the metaverse development.

It will empower companies that steer growth in digital infrastructure, web development & content services, design & engineering software, computing hardware & components, gaming technology & software, and smartphone & wearable technology.

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