The Fidelity funds are suitable for investors looking for bitcoin exposure without the hassles of physically owning it.

Fidelity Investments Canada ULC has launched the Fidelity Advantage Bitcoin ETF and Fidelity Advantage Bitcoin ETF Fund (Mutual Fund) for investors seeking exposure to the largest cryptocurrency in the world.

“As bitcoin and digital currencies are gaining recognition among investors, we are pleased to offer a professionally managed bitcoin ETF and ETF Fund supported by the strength and scale of Fidelity,” said Kelly Creelman, Senior Vice President, Products and Marketing, Fidelity Investments Canada ULC, in a statement. (CISION Canada)

Notably, Fidelity Clearing Canada ULC (Fidelity Clearing) is Canada’s first Investment Industry Regulatory Organization of Canada (IIROC) entity to offer a secure digital asset trading and custody solution for institutional investors including investment funds. Their trading and custody solution offers vaulted cold storage, physical, cyber and operational controls as well as multilevel innovative safeguards.

Investors in the ETF as well as the mutual fund would therefore be confident that their bitcoin would be stored safely using Fidelity’s institutional-grade security.

“Whether it is to diversify a portfolio, hedge against inflation or to gain exposure to an emerging asset class, we are excited to bring our innovative investments to the market and offer Canadian investors an opportunity to get exposure to bitcoin and help them meet their financial goals,” said Creelman.

The funds have an annual management fee of 0.4%. They are eligible for tax-advantaged registered accounts.

Related Story: Fidelity Canada Launches Three New Liquid Alt Mutual Funds