Fidelity International, a major financial services corporation, will offer a Bitcoin exchange-traded vehicle on both the SIX Swiss Exchange and the Xetra digital stock exchange in Germany.
Fidelity International’s actual Bitcoin exchange-traded product, or ETP, is now available for trading on the Deutsche Boerse Xetra. As well as Frankfurt Stock Exchange under the ticker FBTC, according to a Tuesday release from Deutsche Boerse. The company also reportedly stated that the crypto investment vehicle would be listed on the SIX Swiss Exchange in the following weeks.
The physically-backed Bitcoin (BTC) ETP will be under the custody of Fidelity Digital Assets and centrally cleared by Eurex Clearing. With a total expense ratio of 0.75%, the ETP is a good choice for investors.
On both the Xetra and Frankfurt Stock Exchanges, FBTC was trading for 3.83 euros. Or $4.36, at the time of publication. Bitcoin is currently trading at $43,590, up from over $45,000 on Thursday.
The firm has already invested in crypto-related businesses all across the world
Through exchange-traded instruments and notes, the Xetra digital stock exchange now offers exposure to cryptocurrencies. Such as Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), Cardano (ADA). As well as Solana (SOL), Stellar (XLM), Tezos (XTZ), and Tron (TRX). Asset management Invesco stated in November that it has listed a Bitcoin ETP on the market with the ticker symbol BTIC.
Fidelity International, founded in 1969 as a subsidiary of Fidelity Investments in the United States. With more than $812 billion in assets under management as of December 31, 2021. The firm has already invested in crypto-related businesses all across the world, including the BC Group in Hong Kong.
While Fidelity International has a crypto ETP listed in Europe, the Securities and Exchange Commission is still considering applications from its parent business in the United States. In January, the Securities and Exchange Commission rejected Fidelity’s Wise Origin Bitcoin Trust spot ETF.