Finance giant Fidelity Investments launches metaverse and crypto ETFs

The world’s fourth-largest asset manager launched a total of seven new funds around April 21. Individual investors and financial advisors will be able to purchase them without commission through Fidelity’s online brokerage platforms.

Two New Crypto ETFs for Fidelity

In response to investor demand, Fidelity is launching two new crypto-themed funds. Fidelity Crypto Industry and Digital Payments ETF (FDIG) and Fidelity Metaverse ETF (FMEX), according to a company press release.

We can read on the site: The two new exchange-traded funds expand Fidelity’s product lineup in the crypto and metaverse sectors. Fidelity Crypto Industry and Digital Payments ETF, which will not offer direct exposure to cryptocurrency. However, it will provide the opportunity to invest in companies that support the broader digital asset ecosystem.. for exampleAnd involved inMint Cryptocurrency trading. as well as in Blockchain technology and digital payment processing. »

Actually, The Fidelity Metaverse ETF offers investors the opportunity to invest in companies involved in Metaverse implementation, hardware and components, digital infrastructure, design and engineering software, software and technology games, web development, etc. In the same branch, American investment bank Coin is setting up a cryptocurrency division.

The five new sustainable fixed income mutual funds and ETFs use Fidelity’s proprietary ESG rating frameworks to assess the issuer’s sustainable business practices. Mutual funds offer classes of shares to individuals and advisors.

As Greg Friedman, Head of ETF Management and Strategy at Fidelity said:

Drawing on decades of investment experience, we focus on growing our broad product portfolio using innovative strategies that provide choice.AndAs well as value and new opportunities for investors.»

We continue to see demand, especially from young investors. s To access the fast growing industries in the digital ecosystem . against Two thematic ETFs offer investors exposure to a familiar investment vehicle “.

ETFs

It is not uncommon for young investors to push for more cryptocurrency investment deals. As well as in the metaverse, the blockchain and cryptocurrencies in general. A report shows that more than 40% of young workers are interested in the world of cryptocurrency.

Commitment to digital assets

Fidelity is one of the oldest management companies that focused on cryptocurrency. She began her exploration of blockchain technology in 2014 withMiningof bitcoins. In 2018, it launched its first commercial offering: Fidelity Digital Assets. A platform that offers custodianship and deal execution for digital assets to institutional investors. In 2020, digital asset management company Fidelity launched a private bitcoin fund. It is currently available to accredited investors.

Fidelity says FMEX is a methodmerchantsTo invest in the next iteration of the Internet. It gives them access to companies that create and develop products related to the metaverse. Such as digital infrastructure, computer components, and wearable augmented reality equipment. The metaverse also attracts online payment giants such as Mastercard.

Last month, a senior executive at the $4.2 billion investment firm’s European arm said the crypto industry mirrors the commodity boom of the 1990s, which saw institutional investors pump hundreds of billions of dollars into the then-nascent sector.

Thus Fidelity is one of the investment giants who want to bridge the gap between traditional investors and the blockchain. It is also interesting to note that the metaverse ETF reflects the direction of this new development of Web 3.0.

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Alexis Patten

Observer of the social, economic and financial revolution driven by cryptocurrency, challenge and metaverse.

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