The new funds will be available on or around April 21 for individual investors and financial advisers to purchase commission-free through Fidelity’s online brokerage platforms.
The Fidelity Crypto Industry and Digital Payments ETF will invest at least 80% of its assets in equity securities included in Fidelity's Crypto Industry and Digital Payments Index and in depositary receipts representing securities included in the index. The fund offers indirect exposure to cryptocurrency by investing in mining and trading, blockchain technology and digital payments processing companies.
Meanwhile, the Fidelity Metaverse ETF will invest at least 80% of assets in securities included in the Fidelity Metaverse Index and in depositary receipts representing securities included in the index. The passively managed, self-indexed ETFs will have expense ratios of 0.39%, the lowest available for ETFs of their kind. With this launch, Fidelity will offer 51 ETFs with more than $33 billion in assets under management.
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