Key takeaways:
- Fidelity, the fourth largest asset management firm in the world, has launched two new crypto-focused ETFs
- The news funds will provide clients with exposure to the metaverse and payments-focused cryptocurrency projects
- Fidelity’s ETH Management lead has said the demand for products offering exposure to digital industries comes primarily from young investors
Fidelity expands its investment offering with crypto and metaverse-focused ETFs
Financial services giant Fidelity, with more than $11 trillion in assets under management (AUM), has announced the launch of two new exchange-traded funds (ETF) that will give its clients the opportunity to gain exposure to crypto and metaverse projects.
According to the company’s press release, the Fidelity Crypto Industry and Digital Payments ETF (FDIG) and Fidelity Metaverse ETF (FMET) will seek to invest at least 80% of assets in the funds in securities included in the company’s proprietary indexes.
Speaking about the launch of the two new investment products, Fidelity’s ETF Management and Strategy lead Greg Friedman said:
“Leveraging Fidelity’s decades of investment expertise, we are focused on growing our broad product lineup with innovative strategies that offer choice, value and new opportunities to investors.”
Friedman added that the demand for access to rapidly growing digital ecosystem industries comes particularly from young investors, who are looking for exposure through conventional investment methods, such as ETFs.
In related news, USDC issuer Circle announced earlier this week that Fidelity, along with BlackRock, and other prominent financial institutions, will be investing $400 million in new capital in the rapidly growing stablecoin company.
