Author:
The multinational financial services corporation aims to make several changes to its Fidelity All-in-One Growth ETF and Fidelity All-in-One Balanced ETF, including adding a small allocation to the company’s Bitcoin ETF.
- After several unsuccessful attempts to launch a spot Bitcoin exchange-traded fund in the States, Fidelity, through its Canadian branch, released such a product up north late last year.
- Now, the company has announced that it will provide a wider adoption for the fund by including it in some of the larger ETFs.
- By adding a small allocation of Fidelity Advantage Bitcoin ETF within Fidelity All-in-One Growth ETF and Fidelity All-in-One Balanced ETF, firm customers will be able to get BTC exposure through those ETFs starting from later this month.
- After this addition, the company will change the risk ratings of the two traditional ETFs. Both will be labeled as “medium” risky, while they were low-to-medium until now.
- Fidelity said it based its decision on the idea to diversify its larger ETFs with “the potential to improve risk-adjusted returns going forward.”
- Fidelity has displayed a pro-bitcoin stance for years, becoming one of the most open companies from the traditional financial sphere. Aside from multiple products tracking the performance of the asset, its Director of Macro recently predicted that BTC could go above $100,000 in the following months.
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
