Breaking: Fidelity Starts Crypto Unit to Serve Wall Street Customers
Highlights:
Business will offer storage, trade execution, customer service
Fidelity Digital Assets will open to institutions in 2019
“Our goal is to make digitally native assets, such as Bitcoin, more accessible to investors,” Fidelity Chief Executive Officer Abigail Johnson said in the statement.
The firm has a “robust pipeline of customers,” said Jessop, who was previously president of Chain Inc., which offers blockchain technology to financial companies. There are more than 370 crypto funds managing as much as $10 billion in assets, according to Autonomous Research -- still just a drop in the bucket in the investment universe.