Fidelity International Lists Physical Bitcoin ETP in London

Fidelity International has announced that its Physical Bitcoin Exchange Traded Product will list on the London Stock Exchange, making it accessible to professional investors directly in the UK for the first time. According to a story in MarketsMedia news, the listing follows the FCA’s decision to allow exchanges to create a UK listed market segment for crypto asset-backed Exchange Traded Notes (“cETNs”), available for professional investors only. The Fidelity Physical Bitcoin ETP, which tracks the price movement of the world’s leading cryptocurrency and is 100% physically backed by Bitcoin, was launched in February 2022, listing first on the Deutsche Börse Xetra and the SIX Swiss Exchange. It aims to represent a convenient and cost-effective way for investors to gain exposure to Bitcoin. Fidelity Digital Assets (FDA) acts as custodian.