Bermuda-based Fidelity International has cut the fee on its physical Bitcoin Exchange Traded Product (ETP) with an Ongoing Charge Figure (OCF) from 0.35% to 0.25%.
The Fidelity Physical Bitcoin ETP, which tracks the price movement of the world’s leading cryptocurrency, was launched in February 2022 and is listed on the Deutsche Börse Xetra, SIX Swiss Exchange and London Stock Exchange.
It aims to represent a convenient and cost-effective way for European investors to gain exposure to Bitcoin.
Dennis Pellerito, Head of UK Wholesale at Fidelity International, said: “The progress being made globally in establishing clearer regulatory frameworks for digital assets is an encouraging development for investors.
“We welcome the FCA’s decision to allow UK retail investors access to crypto asset-backed Exchange Traded Notes (cETNs). This important step brings the UK regulatory framework in line with other international markets and, crucially, enhances investor protection.
“A more transparent and supportive environment is helping to build confidence in the asset class and accelerate institutional adoption.
“The Fidelity Physical Bitcoin ETP was designed to give investors high-quality, institutional-grade access to Bitcoin in a simple, familiar, and secure way. By reducing the fee to 0.25%, we are ensuring that clients can access this market with greater efficiency, while benefiting from the safeguards of a regulated and institutional-grade product.”
