Fidelity has entered the cryptocurrency space with the launch of the cheapest physically-backed bitcoin ETP (exchange-traded-product). Listed on both the Deutsche Boerse and Frankfurt Stock Exchanges currently and in the coming weeks will list on SIX Swiss Exchanges this represents a positive move for general adoption.
Fidelity Digital Assets will be acting as custodians for the Fidelity Physical Bitcoin ETP (FBTC) with Brown Brothers Harriman acting as administrators and transfer agent.
It would seem that Europe is leading the US with its adoption of ETP's/ETF's availability, with US applications for ETF's still pending approval by the SEC.
Fidelity enters crypto space with Europe’s cheapest physical bitcoin ETP