Global asset management giant Fidelity Investments will launch bitcoin trading in the coming weeks

Global asset management giant Fidelity Investments will launch bitcoin trading in the coming weeks

  

In addition to launching hosted services, Fidelity appears to be launching bitcoin trading services for institutional clients. There are reports that Ameritrade and E-Trade are quietly testing BTC transactions on their respective platforms.

Fidelity plans to launch bitcoin trading services

According to Bloomberg News, inside sources said Fidelity plans to launch a bitcoin trading platform. According to the report, the service will cater to the company's institutional customers, which cannot be used by retail investors.

The company's spokesperson, Arlene Roberts, commented on Bloomberg's comments on the matter:

“We currently offer a range of options for users on the platform. In the coming weeks and months, we will continue to launch our services based on customer needs, jurisdiction and other factors. Currently, our services focus on Bit currency".

Fidelity Investments currently manages assets in excess of $2.4 trillion and may open BTC transactions to its more than 27 million customers. The move will provide institutional investors with further exposure to this top cryptocurrency.

Abigail Johnson must do something about the bitcoin she dug: Fidelity will offer #cryptocurrency trading service in a few weeks: https://t.co/QMrgqJ9szs

-David Kudla (@ davidkudla) May 6, 2019

As early as 2018, the company announced the launch of Fidelity Digital Assets, a cryptocurrency hosting platform.

According to a report by Bitcoinist on Friday (May 3, 2019), a research commission commissioned by the company also showed that institutional investors are increasingly interested in cryptocurrencies.

Mainstream institutions flock to bitcoin transactions

Fidelity will join the growing number of institutional investors and begin offering Bitcoin trading services. In the past two weeks, there have been reports that well-known brokers such as TD Ameritrade and E-Trade will provide BTC trading services.

The three companies manage about $4 trillion in assets, and they all want to enter the bitcoin trading business. People who put forward comments like "Bitcoin is a gamble" are more likely to be sensitive to mainstream investment trends.

Unlike E-Trade, Fidelity's plan seems to be only for institutional investors. According to Bitcoinist, E-Trade plans to launch BTC and ETH trading services to its more than 5 million customers.

At the time of these reports, BTC is performing well in the encryption market and is likely to increase market optimism about the asset class. Bitcoin has risen more than 50% since the beginning of the year.

In April 2019, bitcoin prices began to rise and showed a strong upward trend. Even the Tether/Bitfinex $850 million lawsuit filed by the Attorney General of New York did not have any significant impact on BTC's growth momentum.