Metaverse cryptocurrency ETFs launched by Fidelity


To provide investors with
exposure to the cryptocurrency and metaverse industries, Fidelity is launching
two new thematic exchange-traded funds, as well as five fixed-income
sustainable funds and ETFs.
As one of the largest
financial institutions with more than $11 trillion under management, Fidelity
Investments will target the cryptocurrency ecosystem and metaverse.
“We continue to see demand,
particularly from young investors, for access to the rapidly growing
industries,” said Fidelity.
In late 2021, Facebook
rebranded to Meta and announced they'd be creating a 'virtual universe' world
for business and leisure, kicking off the emergence of the metaverse sector. By
investing in the Fidelity Metaverse ETF, investors will gain broad exposure to
the emerging metaverse.
Investors can invest in the
future of the internet through FMET's access to companies that produce,
manufacture, distribute, or sell products or services that facilitate
establishing and enabling the metaverse, including hardware and components for
computers, digital infrastructure, design, and engineering software, gaming
technology, web content and products, and smartphones and wearable technology.
Fidelity's online brokerage
platforms will offer commission-free purchases of the new funds to investors
and financial advisors on or around April 21.
The head of Fidelity's ETF
management and strategy, Greg Friedman commented:
"We continue to see
demand, particularly from young investors, for access to the rapidly growing
industries in the digital ecosystem, and these two thematic ETFs offer
investors exposure in a familiar investment vehicle."
At least 80% of the assets
of the Fidelity Crypto Industry and Digital Payments ETF will be invested in
equity securities and depositary receipts that represent securities included in
the index.
It is anticipated that Fidelity's market recognition and experience in the metaverse investment arena in 2022 will contribute to the growth and expansion of the emerging asset class, giving institutional investors and retail investors more options to get into the market.

Pavan A
CBW - External Analyst
INDIA