Wall Street has arrived in the cryptocurrency arena. Fidelity Investments, one of the biggest asset managers on the planet, will launch a crypto trading service “within weeks” according to a Bloomberg report.
Fidelity says its cryptocurrency trading product is aimed at institutional traders and will initially focus on bitcoin. Fidelity spokesperson Arlene Roberts said:
“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 is one of the first major players on Wall Street to embrace bitcoin. The firm previously revealed plans for an institutional-grade crypto custody service and promised an over-the-counter platform for bitcoin trading.
This story is developing.
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