Fidelity to Start Bitcoin Trading

[Magician]

Fidelity, one of the largest asset managers in the world with $2.7 trillion under management and 1.3 million trades a day is to start bitcoin trading for institutional investors.

“We currently have a select set of clients we’re supporting on our platform,” Fidelity spokeswoman Arlene Roberts said before adding:

“We will continue to roll out our services over the coming weeks and months based on our clients’ needs, jurisdictions, and other factors. Currently, our service offering is focused on Bitcoin.”

According to unnamed sources, Fidelity Investments will buy and sell bitcoin for institutional customers within a few weeks.

That’s after they carried out a survey where they found almost half of institutional investors might add bitcoin to their portfolio.

According to the survey, 47% see bitcoin as innovative new tech and nearly as much see it as an uncorrelated asset. While a quarter think it has high upside potential and enables decentralization.

“Our group is focused on helping specific types of institutions engage with digital assets in a meaningful way,” Fidelity Digital Assets said.

Suggesting pension funds, trusts, family offices, and other entities, might now soon be able to buy or sell bitcoin in a convenient way with Fidelity providing a custody service too.

They’re not open to retail investors yet, but bitcoin is now being integrated in traditional infrastructure while eth might follow as CFTC is apparently ready to greenlight ethereum futures.

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