Fidelity Bulks Up Thematic Lineup With Crypto, Metaverse ETFs

Fidelity Investments is launching a pair of crypto-focused exchange-traded funds in a bid to grab flows from rivals that have swooped into the nascent space.

The Fidelity Metaverse ETF (ticker FMET) and the Fidelity Crypto Industry and Digital Payments ETF (FDIG) will begin trading Thursday. FMET will primarily invest in companies involved in building out the “future state of the Internet.” FDIG will track blockchain and digital payment processing companies, according to a statement.

Fidelity steps into an increasingly crowded market with more than a dozen crypto-themed equity ETFs already trading. The firm had hoped to …