The money services company reportedly said it planned to possess a similar Bitcoin ETP listed on the SIX Swiss Exchange within the coming weeks. 



Major money services firm Fidelity International are listing a Bitcoin exchange-traded product on the SIX Swiss Exchange and Germany’s Xetra digital stock exchange. 

According to a weekday announcement from Deutsche Boerse, a physical Bitcoin exchange-traded product, or ETP, from Fidelity International is currently on the market for commerce on the Deutsche Boerse Xetra and Frankfort stock market beneath the ticker FBTC. additionally, the corporate reportedly same it planned to possess the crypto investment vehicle listed on the SIX Swiss Exchange within the coming back weeks. 

Fidelity Digital Assets can act because the steward for the physically-backed Bitcoin (BTC) ETP, which is able to be centrally cleared with world exchange Eurex Clearing. The ETP includes a total expense ratio of 0.75%. 

At the time of publication, FBTC was commerce for roughly 3.83 euros, or $4.36, on each the Xetra and Frankfort stock market. the value of Bitcoin is presently $43,590, having concisely up to quite $45,000 on Thursday. 

2-day price movement of Fidelity Physical Bitcoin ETP on Xetra. Source: Deutsche Boerse

The Xetra digital stock exchange presently offers exposure to cryptocurrencies as well as BTC, Bitcoin money (BCH), Ether (ETH), Litecoin (LTC), Cardano (ADA), Solana (SOL), Stellar (XLM), Tezos (XTZ) and Tron (TRX) through exchange-traded merchandise and notes. In November, plus manager Invesco proclaimed it had listed a BTC ETP on the exchange beneath the ticker image BTIC. 

Launched in 1969 as a subsidiary of the U.S.-based firm Fidelity Investments, Fidelity International had over $812 billion in assets beneath management as of Dec. 31, 2021. The firm has previously invested in crypto-related companies across the world as well as the Hong Kong-based BC cluster. 

While Fidelity International listed an ETP with exposure to crypto in Europe, its U.S. parent company still has applications into account by the Securities and Exchange Commission. The regulator rejected Fidelity's Wise Origin Bitcoin Trust spot ETF in January.

( Turner Wright, Cointelegraph, 2022 )