Fidelity is thinking about letting people trade bitcoins on its brokerage platform:
It seems that the rumors are true. Familiar people advanced Fidelity’s plans to the Wall Street Journal.
- Fidelity weighs retail Bitcoin trading.
- The Wall Street Journal confirmed the rumours.
- Novogratz had also secured the information.
- The firm has not made an official announcement yet.
Speculations that fidelity is preparing to open cryptocurrency trading to retail clients are still spreading and have reached out to a reputable communication agency.
The asset management and pension fund giant, Fidelity Investmentsis weighing the possibility of allowing individual investors to exchange Bitcoin on your brokerage platform, according to reported Wall Street Journal He cited sources close to the issue.
According to the report, which cited sources familiar with the matter, the company is reportedly working to bring cryptocurrency to its more than 34.4 million brokerage accounts. Though fidelity has not yet made an official announcement, the report seems to confirm the rumors that have been circulating in the crypto space since last week.
Various figures in the community speculated on Twitter the move of the company with more than $4 billion of assets under management into digital assets. Among them, the well-known analyst Michael van de Poppe wrote in a tweet on thursday that fidelity would start offering crypto trading to its retail clients.
????BREAKING: Fidelity is launching #bitcoin trading for retail customers in November! ????
Fidelity has $4.3T assets under management.
—Bitcoin Archive ???????????? (@BTC_Archive) September 8, 2022
Billionaire investor and CEO of digital-galaxyMichael Novogratz also addressed the rumors on Monday, saying he had a close insider who had also confirmed the strategy for him. During a panel discussion at the SALT conference in New York, Novogratz commented, speaking about the institutional adoption of crypto assets.
A little birdie told me that Fidelity is going to move their retail customers to crypto very soon. I hope that bird is right.
fidelity bet on cryptocurrencies
This would be far from the first foray of fidelity in the cryptocurrency space. Directed by abigail johnsonFidelity was one of the first large financial firms in the United States in defending digital assets. In 2015 the company started mining Bitcoin and three years later he launched a trading business Bitcoin for institutional clients.
More recently, fidelity started allowing corporate clients to allocate cryptocurrency to their retirement funds. Specifically, they can add Bitcoin to the 401(k) plans that the firm manages for them; although the plans have been criticized by some US regulators and lawmakers.
The movement of fidelity would not be isolated, since it follows the recent association between black rock Y coinbase. black rockthe world’s largest asset manager, announced last month that it will allow institutional clients to access digital currency trading and custody services through the platform CoinbasePro.
If the rumors are confirmed, the movement of fidelity would be the last sign of interest from wall street for cryptocurrencies, something that Novogratz has already described in the past as “the most bullish” what could happen to Bitcoin.