The Godfather of Financial Services, Fidelity, is reported to venture into the world of digital assets and has announced a new crypto and metaverse exchange-traded funds (ETFs) with around $4,200,000,000,000 worth of investment. 

According to the company press release earlier this day reported that in response to gigantic investor demand, the financial service behemoth, Fidelity is going to launch their very own two branded crypto-themed funds. 

They announced the two branded new-crypto-themed funds are — Fidelity Crypto Industry and Digital Payments ETF (FDIG) and the Fidelity Metaverse ETF (FMEX).

Greg Friedman, the Head of Fidelity ETF Management and Strategy said,

“Leveraging Fidelity’s decades of investment expertise, we are focused on growing our broad product lineup with innovative strategies that offer choice, value and new opportunities to investors.”

He also pointed out that,

“We continue to see demand, particularly from young investors, for access to the rapidly growing industries in the digital ecosystem, and these two thematic ETFs offer investors exposure in a familiar investment vehicle.”

Fidelity also reportedly launched about five new fixed income sustainable fundings, bringing its total of offered ETFs to 51.

Fidelity Goes All-In With 4 Trillion Dollars worth of Investment in Digital Assets and Crypto (Metaverse and ETFs)

As per the reports, FDIG has no intentions of exposing their clients directly to crypto assets, it would only allow them to invest in companies that are proactively partaking in crypto trading and mining, the development of blockchain technologies, and also the payments processing. 

According to the press release, Fidelity stated that FMEX is a stepping stone for traders to gain access to investing in the next iteration of the internet, solely by providing them the direct access to companies that create and develop metaverse related assets, such as digital infrastructure, computer components, and wearable AR gear. 

As per the reports, last month a top executive stated at the $4.2 trillion personal investment made by the firm’s European Branch that, the crypto industry is basically mirroring a pattern; more like history is repeating itself; that of the commodities which boomed in the late 1990s, which evidently saw a breakthrough revolutionizing emergence when institutional investors poured in billions of dollars in these sectors.