Fidelity International Enables Direct Investment in Bitcoin – Blockworks

  • Since 1980 the firm has operated independently of US-based Fidelity Investments, which still seeks to launch a spot bitcoin ETF
  • Fidelity International’s bitcoin ETP began trading in Germany on Tuesday and is expected to launch in Switzerland in the coming weeks

Another bitcoin exchange-traded merchandise carrying the Fidelity name has launched — precisely not the one some US investors are waiting for .
Bermuda-based Fidelity International, which manages approximately $ 800 billion in customer assets, is launching the Fidelity Physical Bitcoin ETP ( FBTC ) for its professional and institutional clients in Europe .
once a auxiliary of US-based Fidelity Investments, Fidelity International has operated independently of the company since 1980 .
The oblation began trading on the Deutsche Börse Xetra in Germany Tuesday, according to the fast, and is expected to begin trading on the SIX Swiss Exchange in the come weeks. FBTC will cost investors 75 basis points.

Distributed daybook engineering has the potential to revolutionize the fiscal arrangement and disrupt many parts of the fiscal populace, with profound implications for investors, Fidelity International Managing Director Christian Staub said in a statement .
“ We are initially providing investors access to the world ’ mho largest cryptocurrency, bitcoin, but we constantly review our product roll and will consider far products and services, discipline to customer demand, ” a Fidelity International spokesperson told Blockworks in an e-mail .
Fidelity Digital Assets, a caller that Fidelity Investments launched in 2018, serves as custodian of the Fidelity Physical Bitcoin ETP .
A Fidelity Digital Assets review published last year found that roughly 90 % of institutional investors matter to in digital assets expect to have an allocation to the space within the next five years .
Fidelity Investments ’ Canadian auxiliary launched an ETF in December that invests directly in bitcoin.

Despite the murder of spot crypto ETP launches afield in recent months, the Securities and Exchange Commission has not so far approved a blemish crypto ETF in the US. The agency denied Fidelity Investments ’ Wise Origin Bitcoin Trust last month .
“ We reaffirm our belief in marketplace readiness for a forcible bitcoin exchange traded product and look ahead to continued constructive dialogue with the SEC, ” a spokesperson told Blockworks at the clock time .
As it awaits approval for its US spot bitcoin merchandise, Fidelity Investments — with closely $ 4.5 trillion of discretionary assets as of Dec. 31 — filed for a pair of ETFs that would invest in companies involved in the metaverse and the broader crypto industry .
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  • Ben Strack

    Ben Strack is a Denver-based reporter covering macro and crypto-native funds, fiscal advisors, structured products, and the integration of digital assets and decentralized finance ( DeFi ) into traditional finance. Prior to joining Blockworks, he covered the asset management industry for Fund Intelligence and was a reporter and editor for versatile local newspapers on Long Island. He graduated from the University of Maryland with a degree in journalism. Contact Ben via electronic mail at [ e-mail protected ]

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