Fidelity are adding exchange-traded funds (ETFs) which will allow a wider range of investors to learn about and invest in the metaverse and crypto space.
Based in the United States, Fidelity Investments Inc is one of the largest multinational investing and asset management platforms in the world with several trillion dollar in assets under its administration.
Metaverse ETF
The new Fidelity Metaverse ETF will be traded under the ticker symbol FMET.
It will enable investors to easily get broad exposure to the emerging metaverse sector which was kick started in late 2021 when Facebook rebranded to Meta and announced they’d be creating a ‘virtual universe’ world for business and leisure.
On this site we’ve reviewed the best metaverse coins that became popular for their applications in that realm, as well as the top metaverse stocks.
Alongside that will be the Fidelity Crypto Industry and Digital Payments ETF with the ticker DIG.
According to the SEC filing:
The Fidelity Crypto Industry and Digital Payments Index is designed to reflect the performance of a global universe of companies engaged in activities related to cryptocurrency, related blockchain technology, and digital payments processing.
Invest in the Metaverse
Head of ETF Management at Fidelity Greg Friedman commented on the growing demand particularly from younger investors for ways to invest in the metaverse:
‘Leveraging Fidelity’s decades of investment expertise, we are focused on growing our broad product lineup with innovative strategies that offer choice, value and new opportunities to investors. We continue to see demand, particularly from young investors, for access to the rapidly growing industries in the digital ecosystem. These two thematic ETFs offer investors exposure in a familiar investment vehicle.’
Fidelity bringing their market recognition and experience to the metaverse investment arena should give another boost to the new and exciting asset class in 2022, giving both retail investors and institutions more routes to enter the market.
There are already a few ETFs available to trade and set up to allow investors to invest in metaverse technologies. For example the ProShares Metaverse ETF (NYSEARCA:VERS).
The parent company behind Facebook (Meta Platforms) has also been opening up ways to create and invest in metaverse assets.
FCA regulated platform eToro offers a bespoke ‘Metaverse Life’ portfolio which currently contains NFT and metaverse related crypto assets such as ENJ, MANA, SAND and metaverse stocks like RBLX.