In a press statement, Fidelity indicated that the all-in-one products would be available both as mutual funds and exchange-traded funds (ETFs). According to Fidelity, the latest product is part of diversifying its offering to clients alongside improving risk-adjusted returns for the future. Following the addition, Fidelity also revealed it would be changing the risk ratings of Fidelity All-in-One Growth ETF and Fidelity All-in-One Growth ETF Fund to “medium” from “low-to-medium.” Worth noting is that Fidelity has on several occasions attempted to launch a similar product in the United States, but the strict regulatory barriers have impeded the company. In the U.S., Fidelity intended to unveil an ETF that will track the performance of Bitcoin as measured by the movement of the Fidelity Bitcoin Index, a barometer the firm established to track the price of the digital currency. The latest product that takes effect later this month adds to Fidelity’s stance as a pro-Bitcoin traditional company. Over the recent months, the company has unveiled several products tracking the performance of Bitcoin. For instance, in November, the company launched the Fidelity Advantage Bitcoin ETF and a corresponding mutual fund that invests directly in cryptocurrency.
Increasing crypto adoption
Overall, Fidelity, which has assets under management valued at over $4 trillion, forays into the cryptocurrency sector is a signal of the growing acceptance of digital currencies in the traditional investment space. The entry of the traditional institutional sector into the cryptocurrency space resulted in the industry’s growth, with assets like Bitcoin recording various all-time highs in 2021. However, in 2022, the cryptocurrency sector has experienced high volatility. Recommended guide: How to Buy Bitcoin in Canada?
