Fidelity to Join The Crypto Trading Bandwagon
May 06 2019 - 12:36PM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
May 6, 2019 -- ADVFN Crypto NewsWire -- Especially since last
year, companies rolling out crypto trading services for
institutional customers is nothing new. Even so, most of those who
now offer such services are from inside and not outside of the
crypto space. Because of this, it is easy to see why some potential
investors are still reticent to join the fray. Until traditionally
reticent financial institutions start showing true confidence in
cryptocurrencies, some will continue to believe they are not a safe
investment.
Changing this sentiment would
likely require more than just a few non-crypto banks and brokers
offering custody and trading services for crypto investors. What
might be a good catalyst for starting another crypto market boom is
a financial industry giant doing the same thing. As of today, since
it was announced that Fidelity will soon roll out crypto trading
services, that may be about to happen.
Before you react to this by going
out and making new investments in your favorite crypto coins, keep
in mind that Fidelity’s upcoming rollout comes with several
important caveats. First, they will not be offering any sort of
crypto trading that the average retail investor can engage in, any
time soon. Their service will be specifically geared towards
institutions that are looking to diversify their portfolio by
adding Bitcoin to it. What led the financial powerhouse to this
point was their development of crypto custody services this March.
Because they’ve made a conscious effort to be both a legitimate
trader of and a legitimate holder of cryptocurrencies, it is
reasonable to conclude that Fidelity is aiming to be a leader in
actually legitimizing Bitcoin on Wall Street.
The logical question then becomes:
when will similar companies follow suit? Furthermore, when will
other cryptocurrencies be shown the same level of trust by
risk-averse investors?
By: BGN Editorial Staff
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