Key Points:
Read more: Fidelity Reveals Pension Funds’ Bitcoin Exploration, $4.8 Trillion Manager’s Revelation!
This thus amounts to a gigantic entry of Fidelity into the cryptocurrency market. Investors in the UK will soon have access to the Fidelity Bitcoin ETP. It commenced trading on the Deutsche Börse Xetra and SIX Swiss Exchange in February 2022. The product is fully collateralized, meaning it will be entirely backed by Bitcoin and track price changes in the cryptocurrency.
Fidelity Bitcoin ETP comes with an ongoing charge of 0.35 per cent, having been cut from its prior rate of 0.75 per cent as of February 2024, making it even more reachable to a higher number of investors.
The listing of Fidelity Bitcoin ETP comes after a recent decision by the Financial Conduct Authority that allows for the establishment of crypto asset-backed ETPs targeting professional investors. The Fidelity Bitcoin ETP enables investors to have easy and regulated investments in Bitcoin without actually holding the cryptocurrency.
According to Stefan Kuhn, head of ETF & Index Distribution at Fidelity International, the recent approval of spot Bitcoin ETFs in the US increased investors' global interest in cryptocurrencies.
The listing comes after a recent raft of crypto ETP and Exchange Traded Note listings on the LSE from a variety of issuers, including 21Shares and WisdomTree. The LSE now boasts multiple options for investors looking for exposure to Bitcoin and Ethereum.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |