Fidelity Considerations For Individual Customers Trade Bitcoin

Fidelity Investments is planning to allow users to trade Bitcoin in the near future, according to the Wall Street Journal.

According to the Wall Street Journal, which cited people familiar with the issue, financial services behemoth Fidelity is considering whether to allow individual brokerage customers to trade Bitcoin (BTC).

This probable move comes on the heels of BlackRock teaming with Coinbase to offer crypto trading to its institutional customers, indicating that Wall Street remains interested in crypto despite the terrible year for digital currency markets.

The company stated earlier this year that it would allow business clients to add bitcoin to the 401(k) plans that it handles for them. The plan, however, has garnered criticism from the U.S. Labor Department, as well as several U.S. senators.

Fidelity Investments is a financial services company with an asset under management (AUM) volume of approximately $4.3 billion, the fourth highest in the United States.

In 2018, Fidelity began offering Bitcoin trading services to its institutional clients. Two years later, the company continued to launch Bitcoin-related fund certificates (Wise Origin Bitcoin Index Fund) and by May of this year, the amount invested in this fund had reached $125 million.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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