The mood may be frosty on the crypto market, but major institutional players, like Fidelity, continue to advance their pawns in this niche. The asset manager is further diversifying its offer, a pioneer on Wall Street, by soon offering its retail clients the possibility of buying and selling bitcoin and ether on its application dedicated to investment.
Fidelity expands its crypto offering to individuals
It has been several years since the American investment fund giant created its subsidiary dedicated to cryptos, Fidelity Digital Assets. Until now focused on institutional investors, it is now opening up to individual investors. Indeed, it will soon offer the bitcoin and ether exchange option, called Fidelity Crypto, via its in-house application dedicated to investments.
Reading the site, trading without commission, but with a 1% spread in the execution prices, of the two assets will be available from $1. At the beginning, the offer will circulate in a closed circuit, without the ability to send or receive cryptos from an external wallet. BTC and ETH will be held by Fidelity Digital Asset’s highly secure custody service. In addition, an educational component will accompany all customers from eligible US states tempted by the adventure, and who can already register on an early access list.
Fidelity on all crypto fronts
If Fidelity was early, under the leadership of its leader Abigail Johnson, aware of Bitcoin’s value proposition, trying to communicate it to its peers on Wall Street at the time of its still sulphurous reputation, the asset manager has since diversified its offer, in particular with ether, while continuing to support the uniqueness of the first cryptocurrency.
Fact, Fidelity multiplied tool (monitoring of analyzes sherlock to support institutions in their investments) and products (Spot Bitcoin ETF in Canada, Spot BTC ETP in Europe, Crypto ETF and metaverse in the USA). The firm, as the nation’s premier provider of retirement accounts – the famous 401(k) – has also introduced bitcoin in the pension plans of its customers. Finally, Along with other traditional finance heavyweights, it prepares the launch of a “one-of-a-kind” crypto exchange, EDX Marketswhere institutional investors and qualified individuals will find a tailor-made solution for trading bitcoin and a few other handpicked crypto-assets.
With such initiatives, it’s hard not to believe in the potential of Bitcoin and (some) of its juniors as the crypto market goes through a long and bitter price tunnel at half mast.
If institutions are positioning themselves in the crypto market, it is not for nothing. And you? What are you waiting for? Don’t wait any longer to take the plunge and register quickly on the Bytbit exchange (commercial link).