Fidelity...Trying To Stay Ahead Of The Competition
Fidelity Investments Inc., one of the largest asset managers in the world, manages a large family of mutual funds, provides fund distribution and investment advice, retirement services, wealth management, operates as a brokerage firm, etc. The brokerage firm has over 100 investor centers and provides services to retail investors and institutions.
Fidelity Investments started a custody service to store Bitcoin last year to buy and sell the world’s most popular digital asset for institutional customers. Fidelity Digital Assets was a bet that Wall Street’s appetite for trading and safeguarding digital currencies would grow in the years to come. Fidelity also started offering over-the-counter trade execution and order routing for Bitcoin...all in an effort to stay ahead of the competition.
Ever since I have been on this platform, I talked about the infrastructure being built from Wall Street to Crypto Street which will serve as the gateway to the crypto space. It's why I'm so confident that even a small stake in cryptos will net you a bag because I believe we will see Bitcoin $50k...without the Institutions. But the crypto space without the Smart Money is a scenario I can't see because companies such as Fidelity have no chance but to serve their customers or else, their customers will walk to the competition.
Fidelity president and director of digital funds Peter Jubber today filed paperwork with the U.S. Securities and Exchange Commission (SEC) informing the regulator of a new fund dedicated to bitcoin.
The early documentation provides little in the way of details about the fund, and shows that zero investors have currently participated. However, to give an idea of how Fidelity might eventually use the newly revealed fund, the firm recently published the results of a survey of 800 institutional investors from the U.S. and Europe, finding that 36% of respondents were already invested in digital assets, while 60% said digital assets had a place in their portfolio.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.