Fidelity Investments is looking to offer Bitcoin to its retail investors. Fidelity has more than 34 million brokerage accounts from such investors.
Fidelity Investments is considering a move that would allow its individual brokerage customers to trade Bitcoin (BTC), according to a Wall Street Journal report.
The Wall Street Journal stated that "people familiar with the matter said, marking the financial giant’s latest foray into cryptocurrencies." and a statement from one of Fidelity’s crypto clients, Galaxy Holdings Ltd.’s CEO Mike Novogratz, who hinted about Fidelity’s latest crypto plans.
Galaxy Digital’s Mike Novogratz said, “a bird told me Fidelity is going to shift their retail customers into crypto soon enough.” He also stated that he is very much “hoping that the bird is right.”
Fidelity launched a bitcoin-trading business for hedge funds and other institutional investors in 2018, and earlier this year allowed corporate clients to add the digital asset to the 401(k) retirement plans it manages for them. Now, the Boston firm is working toward bringing crypto to its more than 34.4 million brokerage accounts, the people said.