US Asset Manager fidelity investment decided to launch bitcoin (btc) Trading for retail investors to meet the needs of the growing number of clients of the Company.
“The wait is over,” the company said in an email sent to a group of its users on November 28, announcing that the Fidelity brokerage account was able to fund a new Fidelity crypto account, industry site TheBlock.co was necessary to happen. informed of,
The asset manager has contacted those who have signed up for a waiting list for Fidelity clients interested in trading major cryptos.
The account says that its users will be able to engage in commission-free BTC and Ethereum (ETH) Business. Customers are requested to read and accept a number of disclosures that include a risk statement according to which “investing in, buying and selling digital assets presents a variety of risks that are similar to those of investing in, buying and selling other, more traditional products.” and are not offered by sale. asset class.”
Considering the strong market position of the firm, which manages assets worth around $4.5 trillion, the latest move could provide a major boost to institutional adoption. Furthermore, the development is part of a number of decisions that the company has taken in the past months to increase its customers’ exposure to crypto.
Last October, with the aim of increasing the exposure of its institutional clients to trading crypto, were taken To enable its institutional clients to trade ETH. Beginning October 28, Fidelity’s institutional customers will be able to buy, sell, and transfer Ether this month.
Earlier this year, Fidelity launched a new Ethereum Index Fund for accredited investors, as part of the asset manager’s strategy to provide new crypto-related investment opportunities to its clients. The launch marked the debut of several crypto-oriented products by the firm.
“The Fidelity Advantage Ether ETF offers secure storage of Ether, managed with our in-house services. The ETF allows you to gain exposure to Ether and trade your holdings with one of the world’s largest cryptocurrencies. Aims to diversify the portfolio. Plus, it’s RRSP and TFSA eligible. And because it’s Fidelity, the benefits are yours,” the company said in a Statement,
According to Fidelity, “The Fidelity Advantage Ether ETF Fund is a mutual fund that invests nearly all of its assets in ETFs.”
ETFs are financial instruments that trade on an exchange like stocks, but track a specific market or asset, such as BTC.
On a related note, recently three US senators Asked Financial services firm to reconsider exposing workplace retirement plans amid ongoing crypto markets turmoil.
Bitcoin Crypto Related Post