Bitcoin Magazine has reported that Fidelity Investments has expanded its bitcoin trading services to the general public through its brokerage platform, Fidelity Digital Assets. Previously, only institutional clients had access to trading bitcoin on the platform, but now, individual investors can trade bitcoin alongside other traditional assets such as stocks and bonds. A waitlist was originally Started in November 2022 which is now active as of yesterday.
On the new fidelity assets platform users will be able to access there Bitcoin in a self custody wallet using a private key, however will not be able to transfer it. Fidelity is cahrging a 1% fee spread for the service
As the popularity of bitcoin and other cryptocurrencies grows, traditional financial institutions are also entering the crypto market. Fidelity, a leading asset management company with assets worth over $4.9 trillion, has launched its own cryptocurrency trading and custody service. This move is in response to the increasing demand for digital currencies among investors.
Fidelity Digital Assets stated that the company is dedicated to providing its clients with a broad spectrum of investment opportunities. They believee that digital assets like bitcoin can be an essential component of diversified portfolios and is pleased to offer customers the chance to invest in this emerging asset class. Fidelity’s move reflects a growing trend of large financial institutions embracing cryptocurrencies and recognizing their potential.
Fidelity has been an active participant in the cryptocurrency industry for multiple years. In 2018, the company established Fidelity Digital Assets, which offers trading and custody solutions for institutional clients. Additionally, Fidelity has made investments in various cryptocurrency startups such as BlockFi, a lending platform, and Coin Metrics, a crypto data company.