Fidelity will 'single-handedly solidify a new asset class' out of crypto

22 Oct, 2018
by Arthur Sillers
Fidelity will 'single-handedly solidify a new asset class' out of crypto

Fidelity launching its crypto based Digital Assets wing will bring a sea change to the crypto landscape according to experts.

CCN quotes the CEO of BKCM Brian Kelly as citing Fidelity as tackling perhaps the biggest hurdle left in institutional adoption, custodial services.

The simple fact is that most investors recognize that even with a volatile market, there is a lot of potential profit to be made, but so far crypto simply does not have the infrastructure that the investor class has come to expect. Fidelity is making crypto a small part of their institution, but Fidelity is the most recognized and among the most trusted investment institutions, so their stamp of approval goes beyond the specific investments which they enable and acts as a stamp of approval, declaring crypto an asset which is accessible and available for mainstream investors.

CZ points out too, that though Fidelity is only planning to make a small potion of their portfolio digital, this still represents a tremendous influx of funds. To CCN he said, “What happens when a fund like Fidelity allocates a mere 5% of their portfolio to crypto? Have you calculated how much that is?”

As it turns out, this amounts to more than $360 Billion, more than the entire valuation of the current crypto market.

 Read more – Bakkt and Fidelity will add an enormous amount of capital to crypto

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