Fidelity launching crypto trading within weeks! According to a Bloomberg report, we could see one of the biggest asset managers on the planet launching a crypto trading service.
Fidelity has said that its cryptocurrency trading product is aimed at institutional traders and will initially focus on Bitcoin. Arlene Roberts, a Fidelity spokesperson, said this:
“We currently have a select set of clients we’re supporting on our platform. 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.”
Fidelity was one of the first major players on Wall Street that embraced Bitcoin. They previously disclosed plans for an institutional-grade crypto custody service and has promised an ambitious over-the-counter platform for Bitcoin trading.
Fidelity is also one of the pillar investors for ErisX, which has been in the news over the last few weeks, as they prepare to enter the markets.
Fidelity is doubling-down on institutional interest and meeting their demands. This couldn’t have come at a better time, with Bakkt’s NYSE owner Jeffrey Sprecher remarking how the current bear market is nothing but a buying opportunity.
It’s clear that we’re going to continue to see massive movement in the Cryptocurrency market. Where will you be when the move happens? Let us know what you think on our Facebook page!
