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Fidelity seeks approval for 2 more crypto-metaverse ETFs -Breaking


Fidelity Investments remained unaffected by U.S. Securities and Exchange Commission (SEC)’s. Rejection of the Wise Origin Trustspot exchange traded fund (ETF), Thursday. The company has filed additional prospectuses regarding crypto-metaverse ETFs to seek regulatory approval. They are the Fidelity Crypto Industry & Digital Payments and Fidelity ETF Metaverse. In rejecting the Wise Origin Bitcoin ETF, the SEC cited the exchange listing the ETF, the Cboe BZX, for not having a proper “surveillance-sharing agreement with markets trading” to prevent fraud and protect investor interests.

But neither one of these ETF applications will be exposed to digital assets. Instead they aim to get exposure to stock of cryptocurrency companies and metaverse businesses operating in that space. To be included in the fund, their shares must also generate significant revenues.