Fidelity is set to launch two new ETFs that will leverage two of the crypto industry’s main branches, crypto payments and the metaverse, according to a report by Bloomberg. The two ETFs named Metaverse ETF (FMET) and Crypto Industry and Digital Payments ETF (FDIG) are now actively trading.
Fidelity ETFs began trading April 21
According to Bloomberg’s report, Fidelity’s Metaverse ETF will allow users to track and invest in Web 3.0 companies that are “building the future state of the internet.” On the other hand, FDIG will offer direct exposure to cryptocurrencies, but instead allow investors to secure investments in companies designed to “support the broader digital asset ecosystem”. These include crypto mining and trading companies, blockchain companies, and digital payment processing companies.
Greg Friedman, head of ETF management and strategy at Fidelity, spoke on the subject, saying that Fidelity has seen massive demand from younger investors:
“We continue to see demand, particularly from younger investors, for access to fast-growing industries in the digital ecosystem, and these two thematic ETFs offer investors exposure in a familiar investment vehicle.”
A new experience in the metaverse
Although there has been a surge in the number of crypto and metaverse-based ETFs recently, Eric Balchunas took to Twitter to reveal the fact that Fidelity aims to go after competitors by offering the lowest fees. low among the other four metaverse-themed ETFs. Additionally, “silent player” First Trust has also launched a metaverse-themed ETF that Balchunas says “will have $1 billion within a year.”
— Eric Balchunas (@EricBalchunas) April 21, 2022
Fidelity has also launched a Decentralizedbased on Metaverse called “The Fidelity Stack”, which aims to educate investors about investments. In this context, it is also important to note that Kripteu Magazine reported earlier that the company had asked for approval ETFs with the SEC in January, and ETFs are finally trading.