Just-In: Fidelity International Launches Bitcoin ETP On London Stock Exchange

In a groundbreaking move, Fidelity International has launched its Physical Bitcoin Exchange Traded Product (ETP) on the London Stock Exchange (LSE). This marks a significant step for digital assets in the UK, drawing considerable attention from professional investors. Amid a significant buzz in the ETF market, this news has fueled optimism among the crypto market participants.

Fidelity Debuts Bitcoin ETP On LSE

Fidelity’s new offering comes in the wake of the Financial Conduct Authority’s (FCA) decision to allow crypto asset-backed Exchange Traded Notes (ETNs) for professional investors. This regulatory change has paved the way for firms like Fidelity International, WisdomTree, and Global X to bring digital asset products to the UK market.

Meanwhile, the Fidelity Physical Bitcoin ETP aims to track Bitcoin’s price movements and is fully backed by the cryptocurrency. It offers a competitive edge with an ongoing charges figure (OCF) of just 0.35%, significantly reduced from its previous 0.75%. Stefan Kuhn, Fidelity International’s Head of ETF & Index Distribution in Europe, highlighted the growing global interest in cryptocurrencies.

Besides, he attributed this surge to the approval of the first Bitcoin ETFs in the US. According to Kuhn, the FCA’s authorization reflects increasing acceptance and demand for digital assets offered through secure and regulated exchanges. He emphasized that the Fidelity Physical Bitcoin ETP provides a straightforward, secure entry point for professional investors in the UK.

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A Boon For UK Investors?

The launch of this ETP by Fidelity International represents a convenient and cost-effective way for investors to gain exposure to Bitcoin. Fidelity Digital Assets (FDA) acts as the custodian, ensuring the highest standards of security and reliability. The Bitcoin ETP, which first launched on the Deutsche Börse Xetra and the SIX Swiss Exchange in February 2022, now becomes directly accessible to UK investors.

Meanwhile, Fidelity’s move aligns with a broader trend of increasing institutional interest in the cryptocurrency market. The reduced charges figure enhances the product’s appeal, making it one of the most competitively priced Bitcoin ETPs available to professional investors.

Notably, this strategic pricing decision underscores Fidelity International’s commitment to offering value while maintaining high standards of security and simplicity. The launch also signifies a notable shift in the UK’s financial landscape, where digital assets are gaining legitimacy and institutional acceptance.

By listing on the London Stock Exchange, Fidelity not only broadens its market reach but also strengthens the credibility of Bitcoin and other digital assets as viable investment options.

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