Fidelity Investments reportedly submitted its applications for two extra prospectuses related to crypto-metaverse ETFs, looking to obtain greenlights from the US SEC. 

Specifically, Fidelity – moving forward perseveringly regardless of the SEC turning down its application for its Wise Origin Bitcoin Trust spot ETF – is reportedly seeking regulatory go-aheads for the Fidelity Crypto Industry and Digital Payments ETF and the Fidelity Metaverse ETF, respectively.

Regarding the rejection of the Wise Origin Bitcoin ETF, the US SEC reportedly mentioned reasons related to the exchange listing the ETF, the Cboe BZX, for not possessing an appropriate “surveillance-sharing agreement with markets trading” to minimize fraud and offer safeguarding to investor interests.

Nonetheless, neither of the two new ETF applications will possess any exposure to crypto assets. Rather, they will aim for exposure to stocks of cryptocurrency and metaverse firms doing business in the industry.

Moreover, the constituent establishments are reportedly required to make significant profits, in order to have their shares included in the fund. 

For the Fidelity Metaverse ETF, the industries in the list for consideration reportedly consist of computing hardware and components, digital infrastructure, design, engineering software, gaming technology, web/content developers and smartphone and wearable tech. 

As for the Crypto Industry and Digital Payments ETF, it will reportedly make investments in firms doing business in various crypto-centric industries – mining, trading, exchanges, along with blockchain companies and payment processors. 

Overall, there are more than 40 digital currency ETFs from different financial institutions looking for the final call from the SEC.