Despite launching a custody service, Fidelity seems ready to launch Bitcoin trading for institutional clients. The news comes at the time when E-trade and Ameritrade are quietly testing Bitcoin trading on their platforms respectively.
Bitcoin (BTC) News Today – Fidelity Targets the Trading of Bitcoin
Based on Bloomberg’s report, inside sources reveal that Fidelity investments have plans to debut a Bitcoin trading platform. According to reports, the service will take care of the firm’s institutional clientele and not retail traders.
As regards the matter, a spokesperson for the company, Arlene Roberts said that the company has a selected set of clients they are currently supporting on their platform. They will continue rolling out services over the coming weeks and months based on clients’ jurisdictions, needs, and other factors. He said that the company’s service offering is focused on Bitcoin.
Bitcoin (BTC) Price Today – BTC / USD
With Fidelity’s asset under management having $2.4 trillion worth, it could possibly open Bitcoin trading to more than 27 million customers. Such a move would bring more institutional exposure to the highly-ranked cryptocurrency.
The company announced the debut of Fidelity Digital Assets as at 2018. According to a research survey the company commissioned, it was revealed that institutional interest for cryptocurrencies is increasing.
Fidelity will be among a wide variety of institutional players beginning to offer BTC trading. There have been reports from well-known brokers like E-trade and Ameritrade getting ready to provide Bitcoin trading services.
Fidelity’s plans seem to be fashioned towards institutional investors only, unlike E-Trade. According to reports from Bitcoinist, E-trade has plans to launch ETH and BTC trading to more than 5 million customers.
These reports come amid when Bitcoin is enjoying a positive run. The highly-ranked crypto has followed its positive price run in April 2019. Even Bitfinex/Tether $850 million cases that were proposed by the Attorney General of New York has not caused any dent to the upward momentum of Bitcoin.
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