Fidelity International has listed its physical Bitcoin exchange-traded product (ETP) on the London Stock Exchange (LSE), available to professional investors starting July 31, 2024. This follows its initial launch in Europe in February 2022 on the Deutsche Börse Xetra and subsequent expansion to the SIX Swiss Exchange.
Stefan Kuhn, Fidelity International’s head of ETF and Index distribution for Europe, called the Financial Conduct Authority’s (FCA) move to allow crypto-backed ETNs a “positive development.” This reflects growing demand for digital assets and signifies a step toward broader adoption by offering regulated access to professional investors.
A standout feature of Fidelity’s Bitcoin ETP is its reduced ongoing charges figure, lowered from 0.75% to 0.35% in February 2024. This makes it more cost-effective for investors.
The listing on the LSE is a strategic move that underscores the increasing mainstream acceptance of digital assets and their integration into traditional financial markets.
