On Wednesday (March 23), Fidelity Exchange Traded Products GmbH listed two new Bitcoin ETPs (in US dollars and Swiss francs) on SIX Swiss Exchange.
Accordingto SIX’s press release, “the two new bitcoin ETPs listed by Fidelity bring the number of crypto ETP issuers to 10, and the number of tradable crypto ETPs to 133.” The press release went on to say that “ETPs and Structured Products combined, the Swiss stock exchange – operated by SIX – currently offers investors access to 208 products based on 18 cryptocurrencies, the largest choice of any regulated exchange.”
Nick King, Head of ETFs at Fidelity, had this to say about these new products:
“The launch of the Fidelity Physical Bitcoin ETP is an important evolution of our exchange traded product offering and the first step in our digital assets product capability. Working with best-in-class service providers, including Fidelity Digital Assets and Brown Brothers Harriman, has allowed us to deliver an extremely robust product structure which allows our clients in Europe to obtain access to Bitcoin in a secure and convenient way.“
The press release also mentioned that “Fidelity is already the second new crypto ETP issuer joining the Swiss stock exchange this year and has been an issuer of Exchange Traded Funds on SIX Swiss Exchange since 2018, currently offering 23 ETFs.” Fidelity International is “a privately held company with a 50-year heritage and offers investment solutions and services and retirement expertise,” operating “in more than 25 countries and with USD 812.8 billion in total assets.” Fidelity International “invests USD 610.5 billion on behalf of its clients (Data as at 31 December 2021).”
Christian Reuss, Head SIX Swiss Exchange, added:
“Our first-class trading infrastructure and our clear framework for crypto underlyings are key reasons why clients are increasingly turning to us for crypto product listing and trading. We very much welcome Fidelity to join our ETP issuers and further expand the product range.“
On February 15, as reported by ETF Stream, Fidelity International’s “Fidelity Physical Bitcoin ETP (FBTC)” got listed on the Deutsche Boerse and Frankfurt Stock Exchange with a total expense ratio (TER) of 0.75%.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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