Fidelity Commences Opening of Retail Bitcoin Trading Accounts

Fidelity Commences Opening of Retail Bitcoin Trading Accounts

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Institutional Demand for Bitcoin

According to a recent email sent to some users, Fidelity, one of the world’s largest financial service providers, has started opening Bitcoin trading accounts for retail customers.

The development came weeks after Fidelity announced that it had opened a wait list for its trading offering, although Fidelity is yet to announce the launch date for this.

For a while, Fidelity investments has been an active participant in the crypto industry, especially in Bitcoin. According to the Fidelity website, Fidelity has started mining Bitcoin since 2014. Also in December last year, it commenced a spot Bitcoin ETF in Canada. 

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Fidelity Interest in Bitcoin Criticism

Fidelity Investments interest in Bitcoin has been under criticism, Fidelity’s announcement of the 401k plan to allow the allocation of Bitcoin has led to more scrutiny of the financial firm by US senators.

However, the same issues came up again recently after the same faction of lawmakers stated in their last letter that “Fidelity Investments has opted to expand beyond traditional finance and delve into the highly unstable and increasingly risky digital asset market.”

Amid the criticism and scrutiny, Fidelity’s interest in Bitcoin trading services seems unstoppable as the firm keeps rolling out digital assets services to its clients as time passes.

In October for instance, the firm disclosed plans to up its crypto unit staff by 100, it also announced the offering of ETH trading services to institutional clients.

With the growing interest of financial service providers like Fidelity in Bitcoin and other cryptocurrencies, there is every possibility that proper crypto regulation may come into existence sooner than expected.

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