Fidelity Investments Canada reduces management fee on Fidelity Advantage Bitcoin ETF®

Building on a strong year driven by Fidelity-All-in-One and Active ETFs, Fidelity ETF business kicks off 2025 with a more competitive digital asset offering

TORONTO, Jan. 13, 2025 /CNW/ - Fidelity Investments Canada ULC (Fidelity) today announced a reduction in the management fee of Fidelity Advantage Bitcoin ETF^® (FBTC-T) from 0.39% to 0.32%, effective January 13, 2025, which will result in a lower management expense ratio going forward. This reduction will also be passed along to Fidelity Advantage Bitcoin ETF Fund^®, which invests directly in the ETF.

Fidelity's Director of ETFs, Andrei Bruno, will be on Fidelity Canada's Reddit to answer questions about this fee reduction, considerations when investing in digital asset strategies and Fidelity's ETF product offerings.  

Since launching its ETF business in September 2018, Fidelity ETF assets under management have grown to $11.7 billion. This includes $4.6 billion in Fidelity All-in-One ETFs and $ 3.2 billion in Fidelity's active ETF line-up (as at January 7, 2025).

With a mission to help build better financial futures for investors, Fidelity has expanded its ETF offerings to 48 investment strategies across asset classes, providing investors choice and access to a wide range of investment strategies supported by the global strength and scale of the broader Fidelity Investments organizations.

From Fidelity's All-in-One ETFs to Factor ETFs, and Active ETFs to Digital Asset ETFs, Fidelity's ETF line up is actively evolving and under regular review to help meet investor and marketplace demands.

Fidelity Advantage Bitcoin ETF^® and other digital asset strategies are custodied by Fidelity Clearing Canada ULC's institutional grade clearing and custody platform. Leveraging Fidelity Investments' early exploration and global expertise and leadership in the blockchain and digital assets space, this platform includes vaulted cold storage, physical, cyber and operational controls, and multi-level innovative safeguards.

How does it work and why Fidelity Advantage Bitcoin ETF^® and Fidelity Advantage Bitcoin ETF Fund^®?

There are several reasons why investors may wish to invest in these funds instead of purchasing and storing cryptocurrencies directly.

• How it works - The investment objective of Fidelity Advantage Bitcoin ETF^® is to invest in bitcoin. Fidelity Advantage Bitcoin ETF Fund^® invests in the ETF. When an investor purchases the ETF, they will own units of the ETF, which in turn owns physical bitcoin. The price of units will go up and down directly in relation to the price of bitcoin.
  
  
• Fidelity security features - Fidelity Advantage Bitcoin ETF^® custodies bitcoin through Fidelity Clearing Canada. The physical bitcoin that the ETF owns is stored using an institutional-grade custodial model, offering the ETF access to the trading and custody of digital assets in a safe and secure way.
  
  
• Tax efficiency and liquidity - Like all Fidelity ETFs and corresponding mutual fund versions, the bitcoin funds are eligible for tax-advantaged registered accounts. Similar to purchasing a stock on the exchange, investors can invest in Fidelity Advantage Bitcoin ETF^® the same way they invest in other ETFs, by purchasing ETF units on the TSX.

For more information, please visit www.fidelity.ca 

About Fidelity Investments Canada ULC

At Fidelity Investments Canada, our mission is to build a better future for our clients. Our diversified business serves financial advisors, wealth management firms, employers, institutions and individuals. As the marketplace evolves, we are constantly innovating and offering our clients choice of investment and wealth management products, services and technological solutions all backed by the global strength and scale of Fidelity. With assets under management of $281 billion (as at January 7, 2025), Fidelity Investments Canada is privately held and committed to helping our diverse clients meet their goals over the long term. Fidelity funds are available through financial advisors and online trading platforms.

About Fidelity Clearing Canada ULC

Fidelity Clearing Canada ULC, a provider of custody and clearing services, provides robust, flexible, and scalable solutions to registered broker/dealers, portfolio managers and investment advisors. Clients rely on Fidelity Clearing Canada for expertise in wealth management, technology, trading, and business transition, which gives them the freedom to focus on what they do best – helping end investors achieve their financial goals. Fidelity Clearing Canada is Canada's first Canadian Investment Organization of Canada (previously IIROC) entity to offer a secure digital asset trading and custody solution for institutional investors including investment funds.

Commissions, trailing commissions, management fees, brokerage fees and expenses may be associated with investments in mutual funds and ETFs. Please read the mutual fund's or ETF's prospectus, which contains detailed investment information, before investing. Mutual funds and ETFs are not guaranteed. Their values change frequently, and investors may experience a gain or a loss. Past performance may not be repeated.

Bitcoin has historically demonstrated high volatility. Particular investment strategies should be evaluated based on an investor's tolerance for risk.  An investment in these funds is considered high risk. 

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SOURCE Fidelity Investments Canada ULC

For more information, please contact: Chris Pepper, Vice-President, Corporate Affairs, Fidelity Investments Canada ULC, T: [phone], M: [phone], E: [e-mail]