Fidelity To Allow Institutional Trading of Bitcoin

Posted on: May 6th, 2019 by jms No Comments

 

According to Bloomberg, Fidelity will allow institutional customers to buy and sell Bitcoin within just a few weeks.

 

Bitcoin has been on a steady rise these past few weeks. Over the past year, we started to see news of major investment firms like E-Trade and Robinhood planning to offer cryptocurrency trading to retail investors. Now Fidelity wants to offer institutional investors a chance to enter the game.

 

According to a spokesperson at Fidelity, a study released by Fidelity on May 2 found that 47 percent of institutional investors think digital assets are worth investing in. Not too shabby if you ask me. What’s more, Fidelity will focus its offerings on Bitcoin alone, at least for the time being it seems.

 

We have yet to see what this will do to the volatility of Bitcoin and other altcoins, but in the long run, I think it will cause the price of Bitcoin to continue rising. So far this has been the case. Whenever large investment firms show interest in Bitcoin it further solidifies its place in the market. Bitcoin is no longer just an idea or a craze, it’s a force to be reckoned with.

 

 

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References:

 

Fidelity Will Offer Cryptocurrency Trading Within a Few Weeks, Bloomberg, 6th of May 2019,
Website Link

 

E*Trade Is Close to Launching Cryptocurrency Trading, Bloomberg, 26th of April 2019,
Website Link

 

Don’t Sleep – Introducing Bitcoin & other cryptocurrencies on Robinhood Crypto, Robinhood, 25th of January 2018,
Website Link