Institutional Bitcoin (BTC) Trading Will Soon Be Available On Fidelity Investments

According to a Bloomberg report, the US-based investment firm Fidelity, which transacts $7 trillion per year, announced that it would soon make institutional Bitcoin (BTC) trading available in the forthcoming weeks.

“The Boston-based firm, one of the largest asset managers in the world, created Fidelity Digital Assets in October in a bet that Wall Street’s nascent appetite for trading and safeguarding digital currencies will grow. It also puts Fidelity a step ahead of its top competitors that have mostly stayed on the sidelines so far. The firm said in October that it would offer over-the-counter trade execution and order routing for Bitcoin early this year,” Bloomberg report reads.

The information that Fidelity is planning for a Fidelity Digital Assets expansion was revealed to Bloomberg by an inside source that wanted to remain anonymous. The platform in question launched in fall 2018, and it has been offering cryptocurrency custody since March 2019.

Institutional Bitcoin (BTC) Trading Will Soon Be Available On Fidelity

As per Bloomberg’s report, Fidelity will soon move to trade cryptocurrency, and Bitcoin (BTC) digital asset, the number one crypto by market capitalization, will be the center of the Fidelity Digital Assets.

fidelity investments - Institutional Bitcoin (BTC) Trading Will Soon Be Available On Fidelity Investments

However, the company did not confirm the rumors, but, via its spokesperson, Arlene Roberts, the investment firm, Fidelity, is indeed going to trade cryptocurrency, more specifically, Bitcoin (BTC). “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 (BTC),” said Arlene Roberts.

Bitcoin (BTC) Price

At the moment of this writing, Bitcoin (BTC) trades at $5,724, witnessing a slight drop of about 1% over the past 24 hours.

Bitcoin (BTC) is the first cryptocurrency in the market by market cap, totaling $101,233,527,934 as per CoinMarketCap. Now, that institutional Bitcoin (BTC) trading will soon be made available by Fidelity, the BTC price against the USD might boost.


Companies Mentioned

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CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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