- Fidelity will continue to expand its crypto services in the near future.
- Soon to launch Bitcoin trading will focus on large volume clients just like other OTC trading providers.
One of the leading investments firms in the United States with an asset base of $7 trillion, Fidelity is said to be preparing to start Bitcoin trading tailor-made for institutional clients. A report by Bloomberg on May 6 cited a source familiar with the matter, however, the source requested to remain anonymous.
The report went ahead to say that Fidelity, in an interesting twist of events is considering opening Bitcoin trading to their existing service. Fidelity is not new to cryptocurrencies because as from March this year, the firm started offering crypto custody services in readiness for the soon to launch over-the-counter (OTC) trading.
The crypto trading service is set to go live in a few weeks as per Bloomberg’s source. According to Arlene Roberts, Fidelity spokeswoman who spoke to Bloomberg:
“We currently have a select set of clients we’re supporting on our platform.” She continued “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.”
As reported last week by FXStreet, institutional investors have been on the rise in the past three years. The data from a poll conducted by Fidelity found that 22% of the 400 corresponded were already having investments in cryptos while utmost half of them were open to having digital assets under their portfolios in the future.
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