Fidelity files two more crypto ETFs

What

Financial services company Fidelity has filed two more ETFs with the SEC to track crypto firms

Why

These ETFs have been filed for crypto firms and those active in the metaverse niche

What next

Fidelity will now wait to hear on the approval of their ETFs

The story

Fidelity, an asset management company, has filed two more exchange-traded funds (ETFs), according to Security and Exchange (SEC) documents.

The ETFs, namely Fidelity Metaverse ETF and the Fidelity Crypto Industry and Digital Payments ETF, are intended to provide investment returns to metaverse companies while being tracked by the Fidelity Metaverse Index.

According to the filing, the Fidelity Metaverse Index tracks “the performance of a global universe of companies that develop, manufacture, distribute or sell products or services related to establishing and enabling the metaverse.” This is contrary to other ETFs, which normally have exposure to digital assets.

This comes after a slew of SEC filings made by other financial services companies. In June 2021, Roundhill Investments launched a metaverse ETF that trades on the New York Stock Exchange, while in December, ProShares filed a metaverse ETF application.

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