Fidelity adds two ETFs focusing on crypto, metaverse
One of the funds will track the digital payments industry, and the other will focus on companies tied to emerging virtual worlds.
Fidelity Investments is launching two exchange-traded funds that track companies whose businesses are related to cryptocurrencies and the metaverse.
The Fidelity Crypto Industry and Digital Payments ETF (FDIG) will not offer direct exposure to cryptocurrency, but offers the opportunity to invest in companies that support the broader digital assets ecosystem, including those involved in crypto mining and trading, blockchain technology and digital payments processing.
The Fidelity Metaverse ETF (FMET) is focused on the evolution and future of the internet; it will provide access to companies that develop, manufacture, distribute or sell products or services related to establishing and enabling the metaverse — networks of 3D virtual worlds.
The companies included in the ETF are involved in computing hardware and components, digital infrastructure, design and engineering software, gaming technology and software, web development and content services, and smart phone and wearable technology.
The funds will be available on or about April 21, Fidelity said in a release.
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