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Fidelity considers Bitcoin trading for brokerage clients- WSJ

By:
on Sep 13, 2022
Updated: Sep 14, 2022
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  • Fidelity Investments has plans to offer clients Bitcoin trading from their brokerage accounts.
  • A report by Wall Street Journal says the company’s latest crypto move could target over 34 million accounts.
  • Fidelity allowed its customers to add Bitcoin to their 401(k) accounts this year.

Fidelity Investments, a leading financial services provider with an increasing visibility in the crypto and blockchain investing space, is reportedly considering allowing its customers access to crypto brokerage trading.

A report by the Wall Street Journal cites sources familiar with the matter as noting that the investment giant is planning to offer individual investors the chance to trade Bitcoin (BTC) on its brokerage platform.

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Fidelity’s eye for crypto

Fidelity launched its Bitcoin trading product for institutional investors in 2018 and recently added an offering that allows corporate clients to save Bitcoin on their 401(k) accounts. The firm has also launched various crypto-related investment products across Europe amid greater demand from institutional investors.

The latest move could therefore see the company bring the digital asset to millions of its brokerage account holders, WSJ reported.

Indeed, according to the report, going through with the said plans could see Fidelity offer crypto trading to millions of people – currently the company has over 34.4 million brokerage accounts.

As Invezz reported in August, investment asset manager BlackRock partnered with crypto exchange Coinbase to provide crypto custody, trading and brokerage to its institutional customers. BlackRock will offer the services via its investment management arm Aladdin.