Fidelity International Lists Cheapest Bitcoin ETP in Europe


Fidelity International, a London-based investment management firm, has listed a Bitcoin exchange traded product (ETP), in Europe as a response to increasing institutional demand.
Fidelity’s Physical Bitcoin ETP launched on Germany’s Deutsche Borse AG (Frankfurt Stock Exchange) on Tuesday, February 15, 2022 under the ticker symbol “FBTC.” The launch of the Bitcoin ETP is targeted at professional and institutional clients. Fidelity Digital assets conducted a survey in July 2021 to find that 70% of institutional respondents planned to diversify into digital asset. Christian Staub, Fidelity International’s managing director Europe, stated that “As this technology becomes more accepted, our clients are rightly looking for an efficient method to benefit from it.” FBTC provides clients with an institution-quality solution that allows them to enter the market in a familiar and easy way.
The fee for the physically-backed Bitcoin ETP is 0.75%. This fee will be in addition to the SEBA Bank’s Bitcoin Tracker Certificate US (SBTCU) fees. Eurex Clearing will clear the product centrally. FBTC will become available for listing on SIX Swiss Exchange in coming weeks. Eurex Clearing will centrally clear the product. Invesco, an investment management company, also launched a Bitcoin ETP back in November 2021. According to CryptoPotato the Invesco Physical bitcoin ETN was listed on Deutsche Boerse’s digital stock exchange, Xetra under the ticker symbol BTIC.
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Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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