Crypto Adoption Boom: Fidelity Will Provide Exposure To Metaverse, Digital Payments With ETFs

The mass crypto adoption continues to explode, and more important players are making moves in this direction.

The latest one is Fidelity, and you can check out the essential details below.

CoinDesk notes the fact that Fidelity Investments, the world’s fourth-largest asset management company, said it plans to offer two exchange-traded funds (ETFs) for investors to gain exposure to the broader crypto, blockchain and digital payment ecosystems.

The Fidelity Metaverse ETF (FMET) will normally invest at least 80% of assets in securities included in the Fidelity Metaverse Index. This will reportedly happen along with depositary receipts representing securities included in the index, the firm said in a statement Tuesday.

The same online publication noted that the Fidelity Crypto Industry and Digital Payments ETF (DIG) will have a similar exposure to companies related to crypto, blockchain technology, and digital payments processing.

“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,” Greg Friedman, Fidelity’s head of ETF management and strategy, stated in an official statement not too long ago.

You can check out more details about this in the original article posted by CoinDesk.

Back in March this year, Fidelity was making headlines regarding other important subjects from the crypto space.

A top executive at Bitcoin custodial firm Fidelity Digital Assets Europe says that the crypto industry is mirroring the commodities boom of the 1990s.

In a new interview with Real Vision founder and macro guru Raoul Pal, Christopher Tyrer says that crypto markets are setting up the same way commodities did decades ago.

“People are asking: is [crypto] a real investable asset class? Does this have a place in a traditional diversified investment portfolio? These are questions that we went through with commodities 20 years ago.”

Check out our previous article in order to learn more details about this.