Fidelity International has announced that its Physical Bitcoin Exchange Traded Product will list on the London Stock Exchange, making it accessible to professional investors directly in the UK for the first time.
The listing follows the FCA’s decision to allow exchanges to create a UK listed market segment for crypto asset-backed Exchange Traded Notes (“cETNs”), available for professional investors only.
The Fidelity Physical Bitcoin ETP, which tracks the price movement of the world’s leading cryptocurrency and is 100% physically backed by Bitcoin, was launched in February 2022, listing first on the Deutsche Börse Xetra and the SIX Swiss Exchange. It aims to represent a convenient and cost-effective way for investors to gain exposure to Bitcoin. Fidelity Digital Assets℠ (FDA) acts as custodian1.
In February 2024, Fidelity cut the Ongoing Charges Figure (“OCF”) on the product from 0.75% to 0.35%, making it a competitively priced ETP available to professional investors.
| Name | ISIN | OCF | Trading Currency | BBG Ticker | SEDOL | RIC |
| Fidelity Physical Bitcoin ETP | XS2434891219 | 0.35% | GBP | FBTG LN | BSMSJN3 | FBTG.L |
| Fidelity Physical Bitcoin ETP | XS2434891219 | 0.35% | USD | FBTC LN | BSMSJM2 | FBTC.L |
Stefan Kuhn, Head of ETF & Index Distribution, Europe, Fidelity International, comments: “Approval of the first spot bitcoin ETFs in the US has spurred interest from investors in cryptocurrencies all over the world. 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.”
Source: Fidelity International
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