According to reports, the financial services firm intends to list the identical Bitcoin ETP on the SIX Swiss Exchange in the upcoming weeks.
Fidelity International, a prominent financial services firm, will launch a Bitcoin exchange-traded product on the SIX Swiss Exchange and Germany's Xetra digital stock exchange.
Fidelity International's physical Bitcoin exchange-traded product, or ETP, is now available for trading on the Deutsche Boerse Xetra and Frankfurt Stock Exchange under the ticker FBTC, as per a Tuesday statement from Deutsche Boerse. Moreover, the company stated that the crypto investment vehicle would be registered on the SIX Swiss Exchange in the following weeks.
Fidelity Digital Assets will serve as the custodian for the physically-supported Bitcoin (BTC) ETP, which will be released centrally through global exchange Eurex Clearing. The total cost ratio of the ETP is 0.75%.
On both the Xetra and Frankfurt Stock Exchanges, FBTC was trading for around 3.83 euros, or $4.36, currently. Bitcoin is currently worth $43,590, after nearly reaching more than $45,000 on Thursday.
Through exchange-traded products and notes, the Xetra digital stock exchange now provides access to cryptocurrencies such as BTC, Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), Cardano (ADA), Solana (SOL), Stellar (XLM), Tezos (XTZ), and Tron (TRX). Invesco stated in November that it has listed a BTC ETP on the exchange with the ticker name BTIC.
Fidelity International was founded in 1969 as a division of the U.S. firm Fidelity Investments, with over $812 billion in assets under management as of December 31, 2021. Previously, the firm invested in crypto-related companies all across the world, including the Hong Kong-based BC Group.
Though Fidelity International listed an ETP with crypto exposure in Europe, its parent company in the United States is still evaluating applications with the Securities and Exchange Commission. In January, the regulator denied Fidelity's Wise Origin Bitcoin Trust spot ETF.