HomeFidelity launches a physical Bitcoin ETP in Europe

Fidelity launches a physical Bitcoin ETP in Europe

Benson Toti

The exchange-traded product is listed on the Frankfurt Stock Exchange, with plans to have it also listed on the Swiss Six exchange.

Fidelity Investments has launched a spot Bitcoin exchange-traded product (ETP) for professional and institutional investors in Europe, adding another physical Bitcoin ETP to a growing list of offerings across the market amid increased demand from investors.

The Bitcoin ETP, whose custodian will be the asset manager’s crypto arm Fidelity Digital Assets, will trade on the Frankfurt stock exchange under the ticker symbol FBTC. The company will also list the product on Zurich’s Six exchange in the next few weeks.

According to Nick King, Fidelity International’s head of ETFs, launching the Bitcoin ETP in for the European market marks an important milestone in the firm’s push into the crypto exchange-traded products market.  

He noted that the offering puts the company in a position to build on its profile as one of the largest players in the digital assets investments space.

The ETP has a total expense ratio (TER) of 0.75%, making it the cheapest exchange-traded product in the European market.

Fidelity launched another Bitcoin product, the Fidelity Advantage Bitcoin ETF in December 2021. The ETF is also listed under the FBTC symbol on Canada’s Toronto Stock Exchange.

Invesco, another investment giant making big leaps in the crypto space, debuted its Physical Bitcoin ETP on the Deutsche Boerse last month. The ETP trades under the ticker symbol BITC.

We use cookies to personalise content & ads, provide social media features and offer you a better experience. By continuing to browse the site or clicking "OK, Thanks" you are consenting to the use of cookies on this website.