The post Fidelity Intl Launches Bitcoin ETP to London Stock Exchange appeared on BitcoinEthereumNews.com.

Fidelity International has announced the listing of its physical Bitcoin exchange-traded product (ETP) on the London Stock Exchange. According to the details from the press release, this development opens the door for professional investors in the UK to gain direct exposure to Bitcoin through a regulated market for the first time. UK Professionals Get Direct Bitcoin Access The listing follows the Financial Conduct Authority’s (FCA) recent decision to allow exchanges to create a UK-listed market segment for crypto asset-backed Exchange Traded Notes (cETNs). However, these products are available only to professional investors, reflecting the regulator’s cautious approach to crypto investments. Fidelity’s BTC ETP, which tracks Bitcoin’s price movements and is fully backed by physical Bitcoin, was initially launched in February 2022 on German and Swiss exchanges. The product aims to offer investors a straightforward and cost-effective way to gain BTC exposure, with Fidelity Digital Assets acting as the custodian. Stefan Kuhn, Head of ETF & Index Distribution, Europe at Fidelity International, highlighted the growing interest in cryptocurrencies following the approval of spot BTC ETFs in the US. He views the FCA’s decision as a positive step, reflecting the increasing acceptance of digital assets offered through secure and regulated exchanges. In a bid to make the product more attractive, Fidelity recently reduced the Ongoing Charges Figure from 0.75% to 0.35%. This has positioned it as a competitively priced option for professional investors. This listing represents a major step forward in the integration of cryptocurrencies into traditional financial markets in the UK. Also Read: BlackRock’s Ethereum ETF, ETHA, enters the top 15 ETFs Follow Us Source: https://www.cryptonewsz.com/fidelity-bitcoin-etp-to-london-stock-exchange/

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Filed under: News - @ July 31, 2024 3:18 pm