Fidelity coming: institutional investors can buy Bitcoin within a few weeks

06 May, 2019 | Updated: 06 May, 2019
by Jelmer van der Dussen
Breaking News
Fidelity coming: institutional investors can buy Bitcoin within a few weeks

Fidelity Investments will start buying and selling Bitcoin for international customers within a few weeks, Bloomberg reports on Monday. Fidelity, having 7$ trillion worth of assets under their management, is one of the largest asset managers in the world, and its entry into the cryptocurrency space is highly anticipated.

The firm announced its first plans to offer Bitcoin in 2018 and is now almost ready for launch. Fidelity offering BTC is opening up doors for institutional investors to enter this space, with the firm targetting international customers with large portfolios.

"We currently have a select set of clients we’re supporting on our platform", Bloomberg quotes Fidelity spokeswoman Arlene Roberts. "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 published a research on May 2 stating that 47% of the institutional investors are think that cryptocurrencies are worth investing in. Not everyone is comfortable purchasing cryptocurrencies directly, some rather want to buy investment products that hold digital assets.

Fidelity entering the cryptocurrency space is seen as a huge next step for Bitcoin and other cryptocurrencies. It is expected that the launch of Bakkt somewhere this year will also lead to more institutional investors buying cryptocurrencies. Bakkt is a Bitcoin futures platform.

Do you think institutional investors entering through Fidelity will lead to a price pump in Bitcoin? Give your opinion in the comments below!

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