Fidelity Seeks Approval for Two ETFs Tracking Metaverse, Crypto Firms

ETFs Tracking Metaverse

Fidelity Investments has applied to the US Securities and Exchange Commission to launch two exchange-traded funds that track metaverse and cryptocurrency companies.

Fidelity Metaverse ETF would feature firms that get half of their revenue from digital infrastructure, gaming, computing hardware, and wearables technology.

The Fidelity Crypto Industry and Digital Payments ETF would track companies that deal in cryptocurrency mining, support services, blockchain, and crypto payment services.

The ETF would not invest directly in the digital assets or participate in initial coin offerings but would mirror the performance of an internal index.

Geode Capital Management is the advisor of the funds, and Deane Gyllenhaal, Louis Bottari, and Peter Matthew have been chosen as the fund managers.

Fidelity applied for a Canadian ETF in November that offers investors Bitcoin exposure. Fidelity Advantage bitcoin ETF opted for Canada amid regulatory hurdles in the US.

Source: SEC

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