Fidelity Worldwide has added the Fidelity Bodily Bitcoin ETP to its enabling retail clients entry from at the moment (3 November).
The product is the primary crypto asset made accessible to Fidelity’s suggested platform clients, whereas the group flagged plans for additional merchandise from a variety of suppliers to be made accessible within the coming weeks.
Dennis Pellerito, head of UK wholesale at Fidelity Worldwide, stated: “Till now, many retail buyers have been restricted to much less safe, unregulated channels or oblique exposures resembling proxy shares. We’re, subsequently, happy to provide our institutional-grade ETP to retail buyers for the primary time.
“The Fidelity Bodily Bitcoin ETP was designed to give each retail {and professional} buyers high-quality, institutional-grade entry to Bitcoin in a easy, acquainted, and safe method.”
The Fidelity Bodily Bitcoin ETP tracks the value motion of the cryptocurrency and was launched in February 2022. It’s now listed on the Deutsche Börse Xetra, SIX Swiss Alternate and London Inventory Alternate. The Ongoing Costs Determine (OCF) has recently been cut to 0.25%.
On 8 October, the FCA lifted its ban on permitting crypto ETPs to be bought to retail buyers. Asset managers together with Fidelity, BlackRock and WisdomTree are among the many names to have since opened up ETPs for retail entry.
