Asset manager Fidelity often comes up with his work on the leading cryptocurrency Bitcoin. This time, Fidelity International, a subsidiary of Fidelity Investments, attracted attention with its first Bitcoin ETP in Europe.

Fidelity International, a subsidiary of Boston-based financial services giant Fidelity Investments, has announced that it will list its first Bitcoin ETP on Deutsche Börse in Frankfurt and SIX Swiss Exchange in Zurich. The physical Bitcoin ETP in question tracks the price of the world's largest cryptocurrency by market cap. It is also available to Fidelity International's professional and corporate customers in Europe.

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Fidelity Digital Assets will act as the guardian of the ETP product in question. In addition, Fidelity International made a statement; He announced that the ETP listings are on Deutsche Börse Xetra today and will be available on the SIX Swiss Exchange in the coming weeks. Fidelity's First Bitcoin ETP in Europe will operate under the code FBTC. Additionally, the ETP will charge a 0.75% fee.

Headquartered in London, the company has a total of $812.8 billion in customer assets under its management.

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What is an Exchange Traded Product (ETP)?

An exchange-traded product (ETP) is basically a type of security that tracks securities, index or other financial instruments. ETPs trade on exchanges similar to stocks, which means their prices can fluctuate from day to day and from day to day. However, the prices of ETPs are derived from the underlying investments they track.

ETPs are financial products that can be bought and sold on the stock market during the day and provide the same return to the investor as an index or asset that is the basis. The main features of ETPs are that they are low cost, can be bought and sold during the day like shares, follow the value of an index or an asset, and offer easy access to hard-to-reach assets, especially for individual investors.