Does it seem that everyone else is getting rich on cryptocurrency? Fidelity Investments announced today that it is rolling out an exchange-traded fund that gives investors exposure to the world of digital assets.
In addition, Fidelity is unveiling a second ETF for those who want to invest in the metaverse.
The two funds, which will open to investors around April 21, are:
- Fidelity Crypto Industry and Digital Payments ETF (FDIG): This ETF does not offer direct exposure to cryptocurrency, but instead allows you to invest in companies like those related to crypto mining and trading, blockchain technology and digital payments processing.
- Fidelity Metaverse ETF (FMET): This ETF gives investors exposure to companies that develop, manufacture, distribute, or sell products or services related to the metaverse. This includes everything from gaming technology and software, to web development and content services.
The ETFs will be passively managed and feature expense ratios of 0.39%, which Fidelity says is the lowest expense ratio available for ETFs of their kind.
In a press release, Greg Friedman, Fidelity’s head of ETF management and strategy, says:
“We continue to see demand, particularly from young investors, for access to the rapidly growing industries in the digital ecosystem, and these two thematic ETFs offer investors exposure in a familiar investment vehicle.”
Fidelity also has created five new fixed income sustainable funds and ETFs that will be open to investors around the same time. They are:
- Fidelity Sustainable Core Plus Bond Fund (FIAEX)
- Fidelity Sustainable Core Plus Bond ETF (FSBD)
- Fidelity Sustainable Low Duration Bond Fund (FAPGX)
- Fidelity Sustainable Low Duration Bond ETF (FSLD)
- Fidelity Sustainable Intermediate Municipal Income Fund (FSIKX)
Interested in cryptocurrency or the metaverse but don’t know where to start? Check out these podcast episodes from “Money!” with Stacy Johnson:
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