The funds will track Fidelity proprietary Crypto Industry and Digital Payments and Metaverse indices. Fidelity filed two prospectuses for crypto-metaverse ETFs for regulatory approval. The proposals are for the Fidelity Crypto Industry and Digital Payments ETF and the Fidelity Metaverse ETF.
ETF Newz Says:
The SEC just rejected their Wise Origin Bitcoin ETF, citing that the exchange listing the ETF, the Cboe BZX, did not having a proper "surveillance-sharing agreement with markets trading" to prevent fraud and protect investor interests.
More and more institutional investors are adding Crypto as a hedge in portfolios.