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Fidelity International's Physical Bitcoin ETP is now listed on the London Stock Exchange, marking a pivotal moment for institutional crypto investments in the UK.
Regulatory Shifts Bolster Digital Asset Products
The London Stock Exchange (LSE) now lists Fidelity International's Physical Bitcoin ETP.
Attracting a lot of interest from institutional investors is a big deal for digital assets in the UK. Optimism among crypto market participants has been bolstered by this revelation, which comes amid a lot of chatter in the ETF sector.
The new product from Fidelity follows the FCA's decision to permit crypto asset-backed Exchange Traded Notes (ETNs) for institutional investors. Companies such as Fidelity, WisdomTree, and Global X are now able to offer digital asset products to customers in the UK because of this shift in regulations.
Fidelity's Competitive Edge with Reduced Fees
At the same time, Bitcoin itself backs the Fidelity Physical Bitcoin ETP, which attempts to follow price fluctuations in Bitcoin. Its ongoing charges figure (OCF) has been drastically cut from 0.75% to just 0.35%, giving it a competitive edge. The increasing interest in cryptocurrency on a global scale was brought to light by Stefan Kuhn, Head of ETF & Index Distribution in Europe at Fidelity.
Coingape reports that the first Bitcoin exchange-traded funds (ETFs) were approved in the US, he said, and that was the reason for the spike. Kuhn claims that the license by the FCA shows how popular and in-demand digital assets are that are traded on regulated and secure platforms. He stressed the importance of the Fidelity Physical Bitcoin ETP as a safe and easy way for UK-based professionals to invest in Bitcoin.
Investors now have an easy and affordable method to get exposure to Bitcoin with the launch of this ETP by Fidelity. The utmost security and dependability are guaranteed by Fidelity Digital Assets (FDA), which acts as the custodian. Bitcoin ETP, which debuted in February 2022 on the SIX Swiss Exchange and the Deutsche Börse Xetra, is now available to investors in the UK directly.
Institutional Interest in Bitcoin Grows
There has been a general uptick in institutional interest in the bitcoin market, and Fidelity's decision is in line with that. The product's decreased cost figure makes it more appealing to professional investors and makes it one of the most reasonably priced Bitcoin ETPs.
Notably, Fidelity's dedication to providing value while upholding high standards of security and simplicity is highlighted by this smart pricing decision. The debut also marks a significant change in the UK's financial scene, as digital assets are becoming more accepted and legitimate by institutions.
Fidelity adds to the growing body of evidence supporting Bitcoin and other digital assets as legitimate investment opportunities by going public on the London Stock Exchange.
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