Crypto ETF and Metaverse ETF Are Officially Launched by Fidelity!
Fidelity Investments announced the launch of two new thematic ETFs: Fidelity Crypto Industry and Digital Payments ETF (FDIG) and Fidelity Metaverse ETF (FMET) – and five new fixed income sustainable funds and ETFs – Fidelity Sustainable Core Plus Bond Fund (FIAEX), Fidelity Sustainable Core Plus Bond ETF (FSBD), Fidelity Sustainable Low Duration Bond Fund (FAPGX), Fidelity Sustainable Low Duration Bond ETF (FSLD), and Fidelity Sustainable Intermediate Municipal Income Fund (FSIKcX). These seven innovative new funds will be available on or about April 21, 2022, for individual investors and financial advisors to purchase commission-free through Fidelity’s online brokerage platforms.
The two new thematic ETFs expand Fidelity’s lineup into the crypto and metaverse industries. Fidelity Crypto Industry and Digital Payments ETF, which will not offer direct exposure to cryptocurrency, delivers 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.
Fidelity Metaverse ETF can help investors invest in the evolution and future of the internet by providing access to companies that develop, manufacture, distribute, or sell products or services related to establishing and enabling the metaverse, such as computing hardware and components, digital infrastructure, design and engineering software, gaming technology and software, web development and content services, and smartphone and wearable technology. Fidelity also released a new Viewpoints article about the metaverse: Enter 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,” said Greg Friedman, Fidelity’s Head of ETF Management and Strategy. “We continue to see demand, particularly from young investors, for access to the rapidly growing industries in the digital ecosystem, and these two thematic ETFs offer investors exposure in a familiar investment vehicle.”
These two new passively managed ETFs will have expense ratios of 0.39%, the lowest available for ETFs of their kind. These are self-indexed ETFs, utilizing Fidelity’s proprietary indices, constructed by Fidelity’s quantitative investing team, to identify equity securities that offer exposure to these rapidly growing industries. With this launch, Fidelity will offer 51 ETFs with more than $33 billion in assets under management.
Fidelity’s five new sustainable fixed income mutual funds and ETFs will use Fidelity’s proprietary ESG ratings frameworks in addition to third-party ESG ratings to evaluate an issuer’s sustainable business practices. The mutual funds will have retail and advisor share classes.
“Fidelity continues to grow its sustainable investing lineup, with a range of equity, fixed income, and asset allocation strategies, as investors continue to seek opportunities to invest alongside their values and influence positive change in the world,” said Pam Holding, Co-Head of Equity and Head of Sustainable Investing at Fidelity Investments. “With the addition of these new sustainable fixed income strategies, our clients now have access to building blocks across multiple asset classes to help address their investment goals and priorities.”
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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