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Fidelity Will Offer Cryptocurrency Trading Within a Few Weeks

  • Asset manager will target institutional customers, not retail
  • Crypto markets continue to be plagued by fraud and theft
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Fidelity Said to Offer Cryptocurrency Trading to Clients
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Fidelity Investments, which began a custody service to store Bitcoin earlier this year, will buy and sell the world’s most popular digital asset for institutional customers within a few weeks, according to a person familiar with the matter.

The Boston-based firm, one of the largest asset managers in the world, created Fidelity Digital Assets in October in a bet that Wall Street’s nascent appetite for trading and safeguarding digital currencies will grow. It also puts Fidelity a step ahead of its top competitors that have mostly stayed on the sidelines so far. The firm said in October that it would offer over-the-counter trade execution and order routing for Bitcoin early this year.