According to Fidelity, 90% of its largest customers are interested in using Bitcoin and other cryptocurrencies. He is currently planning to open his digital assets to private investors.
Fidelity’s plans to take over the cryptocurrency market appear to be more ambitious than previously thought.
In an interview with the Boston Globe, Christine Sandler, head of sales and marketing at Fidelity Digital Assets, said there was growing institutional interest in cryptocurrencies. For most investors, the primary route to cryptocurrencies is Bitcoin (BTC) and then Ether (ETH).
Tom Jessop, head of Fidelity Digital Assets, says the pandemic is a significant factor in investors ’potential interest in cryptocurrencies.
“In an environment where only 21 million bitcoins are in production, a tight asset class, a devalued currency, and a lot of paper money printing, epidemics are making people hesitate.
It’s no secret that for the first time this year, most institutional investors are cautiously participating in the cryptocurrency market. Fidelity Investments seems to be one step ahead and aims to be one of the first institutions to provide investors with the infrastructure needed to enter the cryptocurrency market directly.
Just in the month of March this year, Fidelity filed an S-1 application with the Securities and Exchange Commission, formally seeking approval for its own Bitcoin ETF, the Wise Origin Bitcoin Trust, and at the end of July, Fidelity acquired a 7.4% stake in North America.
Crypto miner at Marathon Digital Holdings, Inc. At the end of July, Fidelity acquired a 7.4 percent stake in cryptocurrency mining company Marathon Digital Holdings in North America for $ 20 million.
Fidelity has also set up its venture capital sector, Devonshire Investors, which invests in cryptocurrency founders such as ErisX, Talos, and Coin Metrics.
Our commitment to cryptocurrencies is the answer to the growing number of clients looking for investment opportunities in cryptocurrencies.
A similar trend is observed for large institutional funds and banks in the United States and worldwide: as recently reported by Cointelegraph, JPMorgan Chase Bank in the United States now offers access to six cryptocurrency funds to its customers.
Following initial criticisms of digital devices, companies such as BlackRock, Goldman Sachs, and Citi have also expressed a more positive view of Bitcoin. According to a recent survey by Nickel Digital Asset Management, a London-based crypto fund manager, most asset managers expect to increase investment in cryptocurrencies in the coming years.
