New Bitcoin ETPs Listed by Fidelity International

Fidelity Exchange Traded Products GmbH has listed two new Bitcoin exchange-traded products (ETPs) in the US dollar and Swiss franc on the Swiss stock exchange, SIX.

Fidelity Lists Two Bitcoin ETPs on SIX

With the new listing, investors using SIX now have access to 133 crypto ETPs and a total of 208 products based on 18 cryptocurrencies. The listing has also increased the total number of crypto ETP issuers on the SIX exchange from 8 to 10.

“The launch of the Fidelity Physical Bitcoin ETP is an important evolution of our exchange traded product offering and the first step in our digital assets product capability.

Working with best-in-class service providers, including Fidelity Digital Assets and Brown Brothers Harriman, has allowed us to deliver an extremely robust product structure which allows our clients in Europe to obtain access to Bitcoin in a secure and convenient way,” Nick King, Head of ETFs at Fidelity said.

Established in 1969, Fidelity International Ltd (FIL) is a company that offers investment management services, including mutual funds, pension management, and fund platforms, to private and institutional investors.

The firm has branch offices in more than 25 countries, with its total assets under management (AUM) valued at $812.8 billion.

Crypto ETPs Drive SIX Trading Volume in 2021

Since SIX started listing ETPs based on crypto assets, the stock exchange has witnessed a significant surge in trading volume. In 2021, SIX’s trading turnover increased to $9.2 billion from  $1.1 billion in 2020, representing a 673% rise within a year.

The number of transactions on the exchange also jumped more than 600% to 354,542 in 2021 from 48,300 recorded in the previous year.

“Our first-class trading infrastructure and our clear framework for crypto underlyings are key reasons why clients are increasingly turning to us for crypto product listing and trading. We very much welcome Fidelity to join our ETP issuers and further expand the product range,” Christian Reuss, Head SIX Swiss Exchange, said.

Fidelity Launches Cheapest Bitcoin ETP in Europe

Meanwhile, this is not the first time Fidelity International has launched a crypto ETP.

Last month, the investment management firm listed the cheapest Bitcoin ETP in Europe dubbed the “Fidelity Physical Bitcoin ETP,” which charges a fee as low as 0.75%.

The ETP was listed on Germany’s Deutsche Börse AG and Frankfurt Stock Exchange under the ticker symbol “FBTC.”