Fidelity launches Crypto and Metaverse ETFs
Fidelity Investments plans to launch exchange-traded funds (ETFs) to give investors exposure to the broader world of digital assets, according to a Press release Tuesday (April 12).
The world’s fourth-largest asset management firm is rolling out a total of seven new funds around April 21 for retail investors and financial advisors to buy commission-free through Fidelity’s online brokerage platforms.
Two thematic ETFs will be available – Fidelity Crypto Industry and Digital Payments ETF (FDI) and Fidelity Metaverse ETF (FMET) – and five new sustainable fixed income funds and ETFs – Fidelity Sustainable Core Plus Bond Fund (FIAEX), Fidelity Sustainable Core Plus Bond ETF (FSBD), Fidelity Sustainable Short Duration Bond Fund (FAPGX), Fidelity Sustainable Short Duration Bond ETF (FSLD) and Fidelity Sustainable Intermediate Municipal Income Fund (FSIKX).
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“Leveraging Fidelity’s decades of investment expertise, we are focused on growing our broad product line with innovative strategies that deliver choice, value and new opportunities to investors,” said Greg Friedman, chief investment officer. and ETF strategy at Fidelity.
“We continue to see demand, particularly from younger investors, for access to fast-growing industries in the digital ecosystem, and these two thematic ETFs offer investors exposure in a familiar investment vehicle,” said said Friedman.
The two thematic ETFs expand Fidelity’s lineup to the crypto and metaverse industries, according to the release. The Fidelity Crypto Industry and Digital Payments ETF does not offer direct exposure to cryptocurrency. Instead, it provides the opportunity for people to support businesses that support the broader digital asset ecosystem, including those involved in crypto mining and trading, blockchain technology, and digital payment processing.
The Fidelity Metaverse ETF gives investors the opportunity to invest in companies involved in enabling the metaverse – computer hardware and components, digital infrastructure, design and engineering software, gaming technology and software, web development and more .
The five new sustainable fixed income mutual funds and ETFs will use Fidelity’s proprietary ESG rating frameworks to assess an issuer’s sustainable business practices. Mutual funds will offer both retail and advisory share classes.
“Fidelity continues to expand its suite of sustainable investments, with a range of equity, fixed income and asset allocation strategies, as investors continue to seek opportunities to invest alongside their values. and influence positive change in the world,” said Pam Holding, co-head of equities and head of sustainable investing at Fidelity Investments.
“With the addition of these new sustainable fixed income strategies, our clients now have access to building blocks across multiple asset classes to help them achieve their investment goals and priorities,” Holding said.
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