Bitcoin

<ul>
 <li>The Fidelity Physical Bitcoin ETP is backed entirely by Bitcoin and attempts to follow its price.</li>
 <li>An ongoing charge figure (OCF) of just 0.35% gives a competitive advantage.</li>
</ul>
Launched on the London Stock Exchange (LSE), Fidelity International’s Physical Bitcoin Exchange Traded Product (ETP) is a revolutionary step. Professional investors are taking notice of this as a major development for cryptocurrencies in the UK. This announcement has boosted crypto market players’ confidence amidst a lot of chatter in the ETF sector.
Following the FCA’s decision to permit crypto asset-backed Exchange Traded Notes (ETNs) for professional investors, Fidelity has introduced its new product. Companies like Fidelity, WisdomTree, and Global X are now able to provide crypto products to customers in the UK. This is because of the shift in regulations.
<h3 class="wp-block-heading" id="h-growing-investor-interest">Growing Investor Interest</h3>
The Fidelity Physical Bitcoin ETP, on the other hand, is backed entirely by <a href="https://thenewscrypto.com/grayscale-officially-launches-bitcoin-mini-trust-on-nyse-arca/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a>. And attempts to follow its price fluctuations. With an ongoing charge figure (OCF) of just 0.35%, a considerable decrease from its previous 0.75%, it gives a competitive advantage. The rising interest in cryptocurrency around the world was highlighted by Stefan Kuhn, Head of ETF &amp; Index Distribution in Europe at Fidelity.
Moreover, he said that the first Bitcoin exchange-traded funds (ETFs) which were approved in the US by the <a href="https://thenewscrypto.com/artists-file-lawsuit-against-sec-over-uncertain-nft-regulations/" target="_blank" rel="noopener noreferrer nofollow">SEC</a>, caused this spike. Also, digital assets provided via safe and regulated exchanges are becoming more popular. And the <a href="https://www.fca.org.uk/" target="_blank" rel="noopener noreferrer nofollow">FCA’s</a> approval is a reflection of that, says Kuhn. An easy and safe way for UK-based professionals to invest in bitcoin is via the Fidelity Physical Bitcoin ETP, he said.
Furthermore, as the custodian, Fidelity Digital Assets (FDA) guarantees the utmost dependability and security. Also, 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.
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Bitcoin ETP Launched by Fidelity International on London Stock Exchange

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TheNewsCrypto

Andre artikler publisert på 31. juli 2024

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