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Fidelity Launches Its First Bitcoin ETP in Europe…Details Here

Fidelity Launches Its First Bitcoin ETP in Europe…Details Here

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Answer Fidelity Launches Its First Bitcoin ETP in Europe…Details Here

Fidelity International, a subsidiary of the world’s leading investment firm Fidelity, has announced the launch of its first exchange-traded product in Europe, the Bitcoin ETP.ETF Stream“.

The new fund, which bears the name “Fidelity Physical Bitcoin ETP” is listed under the “FBTC” index on the Frankfurt Stock Exchange.

At just 75 basis points, it is the cheapest Bitcoin ETP to date.

Christian Staub, European managing director of Fidelity International, told Fidelity International that there is a demand for products that provide exposure to cryptocurrencies, adding:

With the increasing acceptance of this technology, our customers are rightly asking for an efficient way to take advantage of this trend.

Read:officially…. Canadian platform “QuadrigaCX” declares bankruptcy

FBTC offers clients a high-quality enterprise solution to enter the market in a familiar, simple and secure manner.

The ETP launched by the London-based subsidiary will be listed on SIX Swiss, Europe’s third largest.

In December, Fidelity also launched an exchange-traded fund based on spot Bitcoin trading in Canada, the latter being the first country in the world to approve such an investment vehicle in early 2021.

Last January, the US Securities and Exchange Commission (SEC) rejected Fidelity’s long-running attempt to launch an instantaneously traded Bitcoin ETF in the US, which certainly dashed the hopes of speculators and trackers.

Invesco, another prominent investment management firm, joined the Bitcoin ETP space last November.

VanEck entered the scene in November 2020.

The total number of cryptocurrency ETPs rose to 132 last year, with total inflows exceeding $9 billion.

Its issuers have successfully capitalized on the institutions’ growing appetite for bitcoin.

Chris Kuiper, director of research at Fidelity Digital Assets, sees Bitcoin outperforming gold.

In his new report, he predicts that sovereign nation states could follow El Salvador’s example by buying and storing bitcoin in their vaults in 2022.

Read:April Fool’s Day causes a trader to lose all his cryptocurrency!

Read also:

Proposing a new bill to regulate stablecoins in the US…Details here

The number of Ethereum addresses holding 0.1 ETH reaches an all-time high


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