Connect with us

Search

News

First Bitcoin Exchange-Traded Product Launched by Fidelity International In Europe

Fidelity International launches first investment product which will focus on tracking bitcoin in Europe.

fidelity
Fidelity

Fidelity International has successfully launched its first-ever investment product with the aim of tracking Bitcoin in Europe, as the British investment manager taps into the rising demand for exposure to digital currencies.

The Fidelity Physical Bitcoin ETP has started trading o nth Deutsche Börse Xetra on Tuesday. It is available to the asset manager’s professional and institutional clients alike in Europe.

The physical bitcoin exchange-traded product or ETP as it’s referred to as well shall also debut on the SIX Swiss Exchange in the upcoming weeks according to Fidelity.

Head of the ETFs at the company, Nick King, stated that the launch of ETP “is the first step in our digital assets product capability”.

The reason behind listing an ETF pertains to a Fidelity Digital Assets survey that showcased 70% of institutional investors expecting to buy or invest in digital assets in the future.

The survey also indicated that more than 90% of the people with a vested interest in digital assets expect to have an allocation regarding their institution’s or clients’ portfolios within the next 5 years.

Bitcoin ETF is yet to be approved in the United States at the moment. Several asset managers have had their proposals rejected, though. Just last month a proposal to list Fidelity’s wise Origin Bitcoin Trust was vetoed.

Advertisement

Trending Articles

Advertisement

TRENDING ARTICLES

News

This measure would specifically be applicable to businesses, not individuals.

News

The residents of Nashville, Tennessee have been bothered by a Bitcoin mining operation to the point of filing a lawsuit over noise complaints.

News

The European Parliament's Economics Committee is all set to vote on MiCA on the 14th of March.

News

The Vice Prime Minister of Ukraine has canceled the scheduled crypto airdrop, opting instead to announce NFTs for troops' support.

Blockwatch is a news and information site on crypto, digital assets, NFTs, crypto investing, and the future of money. Blockwatch is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Blockwatch is an independent operating subsidiary of Ubiquitous, Inc, which invests in cryptocurrencies and blockchain startups.

Copyright © 2022 Blockwatch™ Media, Inc. Blockwatch™ Media is a Ubiquitous company. All rights reserved.