Sign up to receive our Newsletter.
Your Privacy is protected.
Mainstream investment venues continue to gauge the viability of cryptocurrency. There is still a high level of skepticism among industry leaders to this day. However, more and more companies are beginning to embrace trading cryptos as a viable investment strategy. As this continues, the bigger the player this industry will become in the investment marketplace.
Covered in a recent post by Stan Schroeder on the website Mashable.com it was revealed by Bloomberg that Fidelity Investments will launch a cryptocurrency trading service. The time frame mentioned by the Bloomberg news source was “within a few weeks”.
This news comes on the heels of a decision by the Intercontinental Exchange-backed crypto market Bakkt to delay its planned launch of this same service. If Fidelity does move forward with its launch as planned, it could have a major impact on the entire market.
Sources close to the situation suggest that Fidelity’s offering will focus on institutional customers. In other industry news, it is possible that E*TRADE will launch a trading service for retail investors. The brokerage firm Robinhood started offering those services to its retail customers in December of 2018.
Fidelity’s entry could be tied to a recent survey that revealed that 47 percent of the company’s institutional investors found value in trading digital assets such as Bitcoin. Fidelity released its plans to Bloomberg. It is already offering Bitcoin to a “select set of clients.” This is set to expand “over the coming weeks and months.”
As one of the biggest financial services companies with $6.7 trillion in total customer assets, Fidelity has the ability to alter the digital currency market with its actions. It is reported that as of December of 2018 , the amount invested by institutions is valued at $2.8 trillion.
It has still been a slow climb for cryptos when it comes to large financial institutions. With oversight from the Securities and Exchange Commission (SEC), past attempts to open a Bitcoin-based Exchange-Traded Fund (EFT) have failed to receive approval or have been delayed. The main concern is market manipulation. A recent report by crypto index fund Bitwise claimed that 95 percent of all Bitcoin trading is fabricated.
Bitcoin is the No.1 way to fund your betting account at BetAnySports online sportsbook and all deposits and withdrawals have no transaction fees. Reduced juice options with -105 betting odds as well as the fastest payouts in the sports betting industry make BetAnySports the top online sportsbook for US players.
Previous New Article: