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Fidelity Investments Sets up Crypto and Meta ETFs of $11.1T -Breaking

by Mike Robinson

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Fidelity Investments launches Crypto and Meta ETFs worth $11.1T
  • Fidelity Investments is launching its metaverse and crypto ETFs.
  • It will allow investors to get into the meta and crypto realms.
  • FMET and FDIG are two of the key areas for company ETFs.

Fidelity Investments is a financial company that will offer Exchange-Traded Fonds (ETFs). They are available in cryptocurrency and the metaverse. The new initiative allows investors to be focused on cryptocurrency and other meta-developments of Fidelity Investments. The ETFs are currently under the administration of the company and have been deployed to more than $11 billion.

Fidelity Investments focuses on two areas. Fidelity Crypto Industry and Digital Payments Exchange Trade Fund (FDIG), is the first. This ETF will invest in companies that “support the broader digital assets ecosystem, including firms doing crypto mining and trading, blockchain technology, and digital payments processing”. This crypto ETF won’t allow direct exposure to cryptocurrency.

Fidelity Metaverse ETF, or FMET, is the second ETF. It invests in companies involved with enabling and creating the metaverse.

Also, this FMET includes companies that focus on “computing hardware and components, digital infrastructure, design and engineering software, gaming technology and software, web development and content services, and smartphone and wearable technology.”

Greg Friedman is Head of ETF Management and Strategy at Fidelity.

There is a lot of demand for digital access, especially from younger investors. These two ETFs provide investors with exposure to these industries through a familiar vehicle.

Additionally, individual investors and financial advisers can purchase the ETFs starting around April 21. They can then purchase ETFs without commissions through the Fidelity Investments online brokerage platform. Fidelity now offers 51 ETFs through these new products.

Fidelity Investments (American multinational financial services provider) is founded in 2009. The company offers financial planning advice, retirement plans and wealth management services. It also provides trading and brokerage services.

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