Report: Fidelity to Roll Out Crypto Trading ‘Within a Few Weeks’

Fidelity is launching cryptocurrency trading service for institutional customers “within a few weeks," according to Bloomberg source.

AccessTimeIconMay 6, 2019 at 12:25 p.m. UTC
Updated Sep 13, 2021 at 9:08 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Financial services giant Fidelity Investments is said to be launching cryptocurrency trading service soon.

A Bloomberg report on Monday, citing “a person familiar with the matter,” said that Fidelity will roll out the service for trading bitcoin “within a few weeks" and will focus on institutional, not retail, customers.

Fidelity spokeswoman Arlene Roberts told Bloomberg:

“We currently have a select set of clients we’re supporting on our platform. 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.”

Just last week, Fidelity published a survey saying that institutional investors are increasingly open to adding digital assets in their portfolios. Around 22 percent of investors already have some exposure to digital assets, while 40 percent said they are open to taking the plunge in the next five years.

Having over $7 trillion assets under management, Fidelity also launched cryptocurrency custody service earlier this year. The giant recently hired a former head of digital assets project from investment bank Barclays.

An increasing number of traditional financial institutions are looking to offer cryptocurrency services. Online stock brokerage firms E*Trade Financial and TD Ameritrade are also said to be preparing to launch cryptocurrency trading services.

Mobile stock trading app Robinhood, on the other hand, launched cryptocurrency trading services over a year ago, and recently announced a plan to launch an initial public offering.

Fidelity image via Shutterstock 

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.