Fidelity, UBS and State Street May Launch Crypto Products

Reading Time: < 1 minute

Fidelity, UBS and State Street are exploring the possibility of launching digital asset investment-focused products in the future, the top managers of the companies have told the Financial Times.

Matteo Andretto, head of State Street Global Advisors (SSGA) Europe, Africa and the Middle East, SPDR, has said the structure “is looking at this space and evaluating how it is evolving.” He added:

“Clients are asking not only about cryptocurrencies, but specifically about SPDR crypto products. They love that we are reliable and safe performers.”

According to him, SSGA will not launch such a product until it can make sure it can reach “very high levels” by aligning with other ETFs and “getting all the characteristics of an SPDR.”

Regarding Fidelity, it has said it is “closely following the development of cryptocurrencies as part of a broader effort to explore the potential of digital assets and the blockchain technology behind them.”

UBS Asset Management ETF head Clemens Reuter has called cryptocurrencies “an area that everyone needs to pay attention to at the moment.” He has added his company had not made a final decision on the launch of the relevant products.