Do you want more crypto ETFs? You got it. Fidelity wants to make two new crypto and metaverse-related funds.
spot exchange-traded fund on Thursday. Following the setback, the company filed two more prospectuses involving crypto-metaverse ETFs for regulatory approval. The proposals are for the Fidelity Crypto Industry and Digital Payments ETF and the Fidelity Metaverse ETF, respectively.
However, neither of the two new ETF applications will have any exposure to digital assets. Instead, they seek to gain exposure to stocks of cryptocurrency and metaverse companies operating in the space. Additionally, the constituent companies must generate substantial revenue for their shares to be added to the fund.
For the Fidelity Metaverse ETF, sectors under consideration are computing hardware and components, digital infrastructure, design, engineering software, gaming technology, web/content developers and smartphone and wearable technology. As for the Crypto Industry and Digital Payments ETF, it will invest in companies operating in cryptocurrency mining, cryptocurrency trading, crypto exchanges, blockchain tech firms, and digital payments processors.
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