Media: Fidelity Investments to allow bitcoin trading for individual investors

In total, more than 34 million accounts are registered on the company’s brokerage platform

13.09.2022 - 11:10

122

2 min

What’s new? Fidelity Investments, a US financial services holding company, is considering allowing individual investors to trade bitcoin on its brokerage platform. This is reported by The Wall Street Journal, citing its own sources.

News on the WSJ’s website

What other information has been released? Indirectly, the launch of bitcoin trading for retail clients was confirmed by Mike Novogratz, billionaire and CEO of investment firm Galaxy Digital.

“A bird told me that Fidelity, a little bird in my ear, is going to shift their retail customers into crypto soon enough. I hope that bird is right,” he said during a speech at the SALT Conference.

In total, the company has more than 34 million accounts registered on its brokerage platform. Sources noted that Fidelity is working to provide them with options to interact with digital assets.

Fidelity representatives have not yet commented on the published material.

What is known about the company? Fidelity Investments was founded in 1946. The company became one of the first financial institutions to get involved in cryptocurrencies. Fidelity launched its digital asset division in 2018.

In April, Fidelity announced the option to invest retirement savings in bitcoin. The new plan will go into effect in late 2022. If approved by employers, retirees will be able to invest up to 20% of their savings in bitcoin. MicroStrategy already agreed to participate in the new program, but US lawmakers have repeatedly criticized the initiative. At the end of July, senators demanded explanations from the company.

Author: