According to the news of ETF Stream, Fidelity International, a subsidiary of the famous investment company, announced the launch of its Bitcoin exchange-traded product (ETP) in Europe.
Fidelity Physical Bitcoin ETP is listed in Frankfurt under the code FBTC.
ETP is the cheapest Bitcoin ETP ever, with a fee of just 75 basis points.
Christian Staub, Fidelity International’s general manager for Europe, stated that the product is an effective way to move towards crypto.
“As this technology gains greater acceptance, our customers are rightly looking for an efficient way to capitalize on this trend. FBTC provides customers with an enterprise-grade solution to enter the market in a familiar, simple and secure way”
ETP, launched by Fidelity International, will also be listed on SIX Swiss Exchange, Europe’s third largest exchange .
Fidelity launched a Bitcoin-based exchange-traded fund (ETH) in Canada in early 2021.
Recently, however, the SEC rejected Fidelity’s proposal to launch a spot Bitcoin ETF in the US.
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