📢 BREAKING: Fidelity International Launches Bitcoin ETP on London Stock Exchange!

🇬🇧 LONDON - Fidelity International has launched the Fidelity Physical Bitcoin Exchange Traded Product (ETP) on the London Stock Exchange, marking its entry into the digital assets market in the UK.

🔹 Key Highlights:
The ETP aims to track the price movement of Bitcoin, the world’s leading cryptocurrency.It is physically backed and carries a 0.35% Ongoing Charges Figure.This launch follows the Financial Conduct Authority's decision to allow crypto asset-backed Exchange Traded Notes, available exclusively to professional investors.

📈 Market Impact:
Fidelity joins other asset managers like WisdomTree and Global X who have recently introduced digital asset ETPs on the London Stock Exchange.Stefan Kuhn, Fidelity's head of ETF & index distribution in Europe, noted that the approval of the first spot Bitcoin ETFs in the US has sparked global interest in cryptocurrencies.

💬 Statements:
Stefan Kuhn: “The FCA’s decision to authorise crypto asset-backed Exchange Traded Notes for professional investors is a positive development and reflects the increasing acceptance and demand of digital assets offered through a secure and regulated exchange. The Fidelity Physical Bitcoin ETP offers professional investors in the UK an institutional quality solution to enter the market in a familiar, simple and secure way.”

🚀 Background:
The strategy was initially launched in February 2022 on the Deutsche Börse Xetra and the SIX Swiss Exchange.

🔍 See also: Investors are too optimistic about the second half of the year, warn Natixis strategists.
Stay tuned for more updates on the evolving crypto market! 🌐

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