Fidelity Digital Assets to Custody Bitcoin in Kingdom Trust Retirement Accounts
Kingdom Trust CEO Ryan Radloff hopes the partnership with Fidelity will nudge the investment giant closer to serving retail crypto investors.
"In a world where benchmark interest rates globally are near, at, or below zero, the opportunity cost of not allocating to bitcoin is higher," the report said.
Stock of three major cryptocurrency mining firms are appearing in Fidelity, Vanguard and Charles Schwab mutual funds.
Fidelity said it wants to improve bitcoin custody and executive services and build products to "support the ecosystem."
Robinhood announced on Thursday it hired Norm Ashkenas and Kelly Zigatis as chief compliance officers of its Financial and Securities teams.
The fund is the latest example of Wall Street veterans cozying up to bitcoin in their rhetoric and capital allocations.