In addition to launching a custody service, Fidelity Investments appears set to debut Bitcoin (BTC) trading for institutional clients. The news comes amid reports of Ameritrade and E-Trade quietly testing BTC trading on their respective platforms.
$2.4 Trillion Dollar Fidelity Targets Bitcoin Trading
According to Bloomberg, inside sources say Fidelity Investments plans to launch a Bitcoin trading platform. Reports say the service will cater to the firm’s institutional clientele and not be available to retail traders.
Commenting on the matter to Bloomberg, Arlene Roberts, a spokesperson for the company said:
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.
Fidelity Investments with asset under management currently north of $2.4 trillion could potentially open BTC trading to its over 27 million customers….