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Tuesday, May 30, 2023

Europe’s Cheapest Bitcoin launched by Fidelity International

Fidelity International has launched ETP, the world’s most affordable Bitcoin on the European market. Europeans can invest directly in Bitcoin using this product. Deutsche Borse Xetra and Frankfurt Stock Exchange list the product as of this writing. Six Swiss Exchange will add the product in a few weeks.

Physical Bitcoin ETP tracks the price of the world’s largest cryptocurrency by market cap. Fidelity Digital Assets will be the custodian of the product in Europe. The ETP will charge a 0.75 percent fee and trade under the ticker FBTC.

The managing director for Europe at Fidelity International, Christian Staub, said:

Distributed Ledger Technology (DLT) has the potential to revolutionize the financial system over time and disrupt many aspects of the financial world with profound implications for investors.”

Staub commented on the rising adoption of the technology as follows:

As this technology becomes more widely accepted, our clients are asking for efficient ways to take advantage of it. FBTC offers clients an institutional quality solution to enter the market in an easy, secure, and familiar way.”

Since the 1980s, Fidelity International has operated independently of US-based Fidelity Investment. It is now the world’s largest asset manager.

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