Fidelity Investments To Debut Its Bitcoin Trading Services

Fidelity Investments will debut its Bitcoin trading services for institutional clients after launching its custody service. The coming altcoin news comes during the reports on Ameritrade and E-trade testing the bitcoin trading on their own platforms.

According to the news reports, sources inside the company say that Fidelity Investments will launch a Bitcoin trading platform. Reports also point out that the services will cater to the company’s institutional clientele and services will not be provided to retail traders. A spokesperson for the company, Arlene Roberts stated:

‘’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.’’

Fidelity Investments has about $2.4 trillion under management and could potentially open BTC trading to more than 25 million customers as the best cryptocurrency news sites report. A move like this one could provide more exposure to institutional clients for the top-ranked cryptocurrencies. Back in 2018, the company launched its Fidelity Digital Assets which is a crypto custodial platform. Currently, the appetite for cryptocurrencies by institutional investors is getting bigger so the company is making the right move.

The financial corporation will also be joining a huge market of institutional players beginning to offer BTC trading. Prominent brokers such as TD Ameritrade are in the game just as E-Trade which is also offering BTC trading services. Among all of the companies, about $4 trillion is under asset management and all of them are interested in doing business with Bitcoin.

However, unlike E-Trade, Fidelity Investments has a plan to appear only to institutional investors. E-Trade will debut BTC and ETH trading to more than 5 million customers. Bitcoin is seemingly enjoying a positive uptrend. The number one cryptocurrency has increased by more than 50 percent since the year started. Bitcoin has also managed to follow its positive price run back in April this year and entered May strongly. The recent scandals involving tether and bitfinex and the $850 million loss, don’t seem to be affecting the largest cryptocurrency at all.