Fidelity Investments Launches Crypto, Metaverse ETFs — Says We Continue to See Demand – Finance Bitcoin News - BitcoinEthereumNews.com
Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. “We continue to see demand, particularly from young investors, for access to the rapidly growing industries,” said Fidelity. Fidelity Sees Demand for Crypto, Metaverse Investments Fidelity Investments anounced the launch of a couple of exchange-traded funds (ETFs) this week to offer 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 assets ecosystem, including those involved in crypto mining and trading, blockchain technology, and digital payments processing,” the firm described. However, this crypto ETF will not offer 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