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More asset managers confirm interest in launching crypto products

Fidelity, UBS and State Street are the latest to say they are scrutinising the crypto fund space

Fidelity, UBS and State Street Global Advisors have confirmed that, like rivals BlackRock and Invesco, they are looking into launching products that offer exposure to cryptocurrencies, such as bitcoin.

Assets in European exchange traded products and mutual funds with cryptocurrency exposure have topped €10.5bn, according to Morningstar data, showing the potential appeal of these products for asset managers.

XBT, part of CoinShares, is the largest provider in Europe, with assets of €5.4bn across eight products domiciled in Sweden and Jersey, followed by Swiss group 21Shares, which manages €2.1bn across its range.

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