Asset Management Giant Fidelity Rolls Out Metaverse, Crypto-Focused ETFs

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  • The world’s fourth-largest asset management firm, Fidelity Investments, will roll out new ETFs for crypto and the metaverse.
  • They continue to see demand, especially from younger investors, for access to fast-growing industries in the digital ecosystem, Fidelity’s head of ETF management and strategy said.
  • ETFs would offer clients exposure to businesses related to virtual payments and the metaverse.

Fidelity, the fourth-largest asset management company in the world, is launching a few new strategic exchange-traded funds (ETFs) that aim to make it easier for investors to gain exposure to the crypto and metaverse sectors.

These funds would be available around April 21, for financial advisors and individual investors to buy commission-free through Fidelity’s online brokerage platforms.

ETFs to facilitate metaverse and crypto-inclined businesses

Fidelity Crypto Industry and Digital Payments ETF will invest approximately 80% of its assets in equity securities that are part of Fidelity Crypto Digital Payments and Industry Index and in certificates of deposit indicating the securities included in the index.

Additionally, the fund facilitates indirect exposure to digital assets by investing in blockchain technology, mining and trading, and digital payment processing companies.

While the Fidelity Metaverse ETF (FMET) is intended to invest approximately 80% in securities that are part of the Fidelity Metaverse Index as well as certificates of deposit representing securities included in the index.

According to Greg Friedman, head of ETF management and strategy at Fidelity, they continue to see demand, especially from younger investors, to access fast-growing industries in the digital ecosystem, and these two ETFs themes offer investors exposure to a familiar investment vehicle. .

ETFs provide access to companies that develop, manufacture, distribute or sell products or services to develop and activate the virtual world. For example, computer hardware and components, design, digital infrastructure and engineering software, gaming technology and software, web development and content services, and smartphone and wearable technologies.

With this rollout of new ETFs, the company’s sustainable range will include twenty-two funds, including thematic sustainable funds that target a specific ESG theme and broad sustainable funds that include all three ESG themes.

The asset manager has approximately $4.2 trillion in assets under management. Earlier in January, he requested a virtual global ETF.

Nancy J. Allen
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