Fox Business, April 15th, 2022 By Lucas Manfredi
Fidelity is launching two new thematic exchange-traded funds and five fixed income sustainable funds and ETFs that will offer investors exposure to the cryptocurrency and metaverse industries.
(AP Photo/Richard Vogel / AP Newsroom)
The new funds will be available on or around April 21 for individual investors and financial advisers to purchase commission-free through Fidelity’s online brokerage platforms.
The Fidelity Crypto Industry and Digital Payments ETF will invest at least 80% of its assets in equity securities included in Fidelity’s Crypto Industry and Digital Payments Index and in depositary receipts representing securities included in the index. The fund offers indirect exposure to cryptocurrency by investing in mining and trading, blockchain technology and digital payments processing companies. https://foxbusinessp.factsetdigitalsolutions.com/ext/fio/foxbusinessportal/factsheet-header/XX:213086262
ETF BIGWIGS GATHER AS ASSETS EXPLODE AND A BITCOIN FUND REMAINS A NO-GO
Metaverse and Future digital technology.Man wearing VR glasses hand touching virtual Global Internet connection metaverse.Global Business, Digital marketing, Metaverse, Digital link tech, Big data (iStock / iStock)
Meanwhile, the Fidelity Metaverse ETF will invest at least 80% of assets in securities included in the Fidelity Metaverse Index and in depositary receipts representing securities included in the index.
The fund provides access to companies that develop, manufacture, distribute or sell products or services related to establishing and enabling the metaverse, such as computing hardware and components, digital infrastructure, design and engineering software, gaming technology and software, web development and content services, and smart phone and wearable technology.
The passively managed, self-indexed ETFs will have expense ratios of 0.39%, the lowest available for ETFs of their kind. With this launch, Fidelity will offer 51 ETFs with more than $33 billion in assets under management.
