Bitcoin [BTC], the world’s first and largest cryptocurrency, has enjoyed an impeccable journey. The asset has gone from being disregarded by many to being extensively accepted all across the world. The cryptocurrency’s primary function wasn’t limited to trading alone. BTC branched out into several fields over the years, resulting in the development of new products. One of them happens to be Exchange-Traded Products [ETP]. Two new BTC ETPs have been created by a subsidiary of a major investing business.
Fidelity has reportedly rolled out two new Bitcoin exchange-traded products on SIX Swiss Exchange, one of the biggest stock exchanges in the EU region.
As per the press release, the ETPs would be in US dollar and Swiss franc. The latest addition has pushed the number of crypto ETP issuers to 10. Speaking about the latest addition, the head of ETFs at Fidelity, Nick King said,
“The launch of the Fidelity Physical Bitcoin ETP is an important evolution of our exchange-traded product offering and the first step in our digital assets product capability. Working with best-in-class service providers, including Fidelity Digital Assets and Brown Brothers Harriman, has allowed us to deliver an extremely robust product structure which allows our clients in Europe to obtain access to Bitcoin in a secure and convenient way.”
Additionally, the latest decision to onboard more crypto-related products was linked to the significant growth that the SIX Swiss Exchange recorded over the year.
Will Bitcoin continue to stay over $40K?
Bitcoin witnessed several peaks and falls over the last couple of months. The asset failed to form prominent support at $40K as it kept dipping down to the 30s. This caused immense panic in the market. However, the community began celebrating following the asset’s recent climb over the $40K level.
During press time, BTC was trading for $42,036.8. But the cryptocurrency was enduring a small slump of 2 percent over the last 24-hours.