The Investment related firm has been centering around crypto for the past few days. The last weeks research report had affirmed the company to make a crucial step into Crypto.
The Boston based Investments firm is one of the largest Asset Managers in the world with asset under management over $7 trillion.
Fidelity had earlier started a custody service to store Bitcoin Cryptocurrency Token. Now it will buy and sell the popular digital assets for institutional customers in the nearing days. After the move Fidelity will join E*Trade Financial Corp,TD Ameritrade and Robinhood in offering cryptocurrency trading to customers.While Fidelity is expected to target only institutional customers.
The recent research report released by the company had pointed the high chances of the institutional investments that can flow into the cryptocurrency in the next 5 years.
The firm’s focus would be on Bitcoin, cleared Fidelity spokeswoman Arlene Roberts.But eventually it will also consider the popular cryptocurrency tokens.
Bitcoin has geared up by more than 50 percent this year. The digital currency gained widespread popularity and fame when it surged 1,400 percent in 2017 to reach all time high of $20,000.
The planned and measured move by the firm can help the Bitcoin price to rise higher.
