Fidelity Investments intends to introduce Bitcoin trading for retail customers on its brokerage platform per the WSJ report.
According to sources familiar with the situation, the trillion-dollar asset manager will launch its latest venture into cryptocurrencies by enabling users to purchase Bitcoin through its platform. In 2018, the company launched its bitcoin trading service for hedge funds and institutional investors. A little over two years later, Fidelity introduced its bitcoin index fund, which in May saw investments surpass $125 million.
In an official response from the firm to a request:
“While we have nothing new to announce, expanding our offerings to enable broader access to digital assets remains an area of focus.”
At the SALT conference in New York on Monday, Galaxy Digital CEO Mike Novogratz said, “A little bird told me Fidelity is going to shift retail customers into crypto soon.” I’m hoping the bird is right.
Fidelity has 34 million brokerage accounts, making it possible for more investors to invest in cryptocurrencies through a reliable platform. When their employers give the go-ahead, the asset manager—which oversees approximately $4.2 trillion in assets—will permit investors to add a bitcoin account to their 401(k)s.
In addition to these services, the company also offers a variety of exchange-traded products focused on virtual currencies, the metaverse, and digital payments.
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