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Fidelity Launches ETFs on Crypto, Metaverse

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Multinational financial services firm Fidelity Investments Inc. has rolled out two exchange-traded funds focused on cryptocurrencies, according to the company press release.

The Fidelity Metaverse ETF or the FMET will start trading on Thursday, pouring funds into firms related to establishing the “future state of the internet.” It is also rolling out “the Fidelity Stack” which teaches retail traders investing basics.

The other exchange-traded fund is focused on blockchain and digital payment processing dubbed the Fidelity Crypto Industry and Digital Payments ETF or the FDIG.

Fidelity Chief Marketing Officer and Head of Emerging Customers David Dintenfass said the firm is “very focused” on tapping the next generation of customers, with investors becoming increasingly attracted to the metaverse and the digital space.

Fidelity also launched five sustainable fixed-income mutual funds and exchange-traded funds, expanding its product portfolio to 51, covering over $33 billion in assets. FXAIX is down 0.06%, while FBGRX is down 1.86% in the past month.

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