Fidelity Digital Assets, the cryptocurrency subsidiary of Fidelity, is purportedly launching bitcoin trading for its clients “within a few weeks,” Bloomberg reported on May 6.
Citing an anonymous source, the report said that the new services will be exclusively available to institutional investors.
Arlene Roberts, a spokesperson for Fidelity, 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.”
With the new development, Fidelity will join Robinhood and E-Trade in the roster of traditional investing platforms that are delving into the cryptocurrency space. Last month, securities brokerage company E-Trade reportedly was finalizing its plans to provide bitcoin and ether trading to its clients. On the other hand, TD Ameritrade also introduced bitcoin and litecoin paper traded via Nasdaq in April.