Fidelity International’s UK-listed bitcoin ETP has received regulatory approval.
Following its authorisation, Fidelity Physical Bitcoin ETP will become the first crypto asset made available to Fidelity’s advised platform clients, with further products from a range of providers to be added in the coming weeks.
Additional crypto assets may be added over time subject to client demand and the normal due diligence process.
The firm said it will also continue to explore opportunities to extend access to crypto assets to customers of its consumer platform Fidelity Personal Investing in the future.
Dennis Pellerito, head of UK wholesale at Fidelity International, said: “Until now, many retail investors have been limited to less secure, unregulated channels or indirect exposures such as proxy stocks.
“We are pleased to offer our institutional-grade ETP to retail investors for the first time. The Fidelity Physical Bitcoin ETP was designed to give both retail and professional investors high-quality, institutional-grade access to Bitcoin in a simple, familiar, and secure way.”
Georg Bauer, head of investment and product for global platform solutions at Fidelity International, added: “As a distributor to retail investors via our Fidelity Personal Investing platform and Fidelity Adviser Solutions, we remain committed to broadening choice and providing innovative solutions to our customers.
“We are, therefore, pleased to introduce crypto assets to our advised clients for the first time, and we look forward to extending this access to direct clients in due course.”
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