Fidelity investments will be launching Bitcoin trading for institutional investors “within a few weeks”, Bloomberg has reported, citing an unnamed source familiar with the matter.
The Boston-based asset manager launched a custody service to store Bitcoin, as part of its foray into the digital currency space. Now the company is looking to buy and sell the original cryptocurrency for institutional investors, Bloomberg reported yesterday.
With this move, Fidelity I looking to capitalise on what appears to be a growing interest from institutional investors to invest in digital currencies. Last week, Fidelity Digital Assets, the asset manager’s crypto arm that was created in October, published a survey showing that around 22% of investors already had some exposure to digital currencies, while 40% were open to tap into the sector in the next five years. The survey was conducted among over 400 US institutional investors.
“We currently have a select set of clients we’re supporting on our platform,”…